Clean Energy Transition LLP Purchases Shares of 784,384 Fortive Co. (NYSE:FTV)

Clean Energy Transition LLP purchased a new stake in shares of Fortive Co. (NYSE:FTV) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 784,384 shares of the technology company’s stock, valued at approximately $58,829,000. Fortive makes up about 2.2% of Clean Energy Transition LLP’s investment portfolio, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Hawaiian Bank boosted its position in Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 10,125 shares during the period. Principal Financial Group Inc. lifted its holdings in Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after purchasing an additional 10,795 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Fortive by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock valued at $2,832,000 after buying an additional 7,829 shares in the last quarter. Nordea Investment Management AB increased its stake in Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock valued at $118,292,000 after buying an additional 303,788 shares during the period. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in shares of Fortive during the 4th quarter worth about $358,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the sale, the chief financial officer now owns 76,126 shares of the company’s stock, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the transaction, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,385 shares of company stock worth $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FTV. Wells Fargo & Company raised their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. BNP Paribas cut Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price target on the stock. in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on Fortive from $90.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday. Barclays dropped their price target on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Finally, Royal Bank of Canada upped their price target on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Fortive currently has an average rating of “Hold” and a consensus target price of $83.33.

Fortive Stock Down 6.0 %

NYSE:FTV opened at $63.69 on Friday. The business’s fifty day moving average price is $75.49 and its 200 day moving average price is $76.37. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.68 and a beta of 1.12. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 1-year low of $60.39 and a 1-year high of $84.03.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period last year, the business earned $0.98 earnings per share. On average, sell-side analysts forecast that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Friday, May 30th. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.