Fortive Co. (NYSE:FTV) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. boosted its position in Fortive Co. (NYSE:FTV) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,768 shares of the technology company’s stock after acquiring an additional 1,059 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Fortive were worth $10,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its holdings in Fortive by 4.3% in the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after acquiring an additional 137 shares during the last quarter. Dynasty Wealth Management LLC boosted its holdings in Fortive by 1.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock valued at $1,083,000 after acquiring an additional 142 shares during the last quarter. Patton Albertson Miller Group LLC boosted its holdings in Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after acquiring an additional 150 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in Fortive by 13.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock valued at $105,000 after acquiring an additional 165 shares during the last quarter. Finally, Webster Bank N. A. boosted its holdings in Fortive by 6.6% in the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock valued at $202,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 0.2 %

Shares of Fortive stock opened at $74.84 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The firm has a market cap of $25.47 billion, a P/E ratio of 31.71, a P/E/G ratio of 2.68 and a beta of 1.16. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $86.21. The business has a 50-day moving average price of $78.65 and a 200 day moving average price of $76.86.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the company 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Barclays reduced their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.64.

Insider Activity

In other news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the transaction, the chief executive officer now directly owns 528,851 shares of the company’s stock, valued at approximately $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 5,688 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares of the company’s stock, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by insiders.

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.