Fortive Co. (NYSE:FTV) Shares Acquired by Strs Ohio

Strs Ohio increased its stake in shares of Fortive Co. (NYSE:FTV) by 380.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 152,252 shares of the technology company’s stock after purchasing an additional 120,539 shares during the period. Strs Ohio’s holdings in Fortive were worth $11,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Moneta Group Investment Advisors LLC raised its holdings in shares of Fortive by 61,103.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,600,591 shares of the technology company’s stock valued at $231,338,000 after acquiring an additional 3,594,708 shares during the last quarter. Norges Bank purchased a new position in shares of Fortive in the fourth quarter worth about $193,761,000. Vanguard Group Inc. boosted its position in Fortive by 2.7% during the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after acquiring an additional 989,883 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Fortive by 136.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,215,152 shares of the technology company’s stock valued at $82,839,000 after acquiring an additional 700,298 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Fortive by 493.0% during the 4th quarter. Point72 Asset Management L.P. now owns 653,500 shares of the technology company’s stock valued at $41,987,000 after acquiring an additional 543,300 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Price Performance

FTV opened at $80.20 on Thursday. The stock’s 50-day moving average price is $84.52 and its 200 day moving average price is $75.95. Fortive Co. has a 12-month low of $62.70 and a 12-month high of $87.10. The firm has a market cap of $28.18 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.57 and a beta of 1.13. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, sell-side analysts expect that Fortive Co. will post 3.78 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.08 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 13.11%.

Analyst Ratings Changes

A number of brokerages recently commented on FTV. Barclays lifted their price objective on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company lifted their price target on Fortive from $79.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Truist Financial began coverage on shares of Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 price objective for the company. Mizuho lifted their target price on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada lifted their price target on shares of Fortive from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.54.

Insiders Place Their Bets

In related news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the sale, the chief accounting officer now owns 20,564 shares in the company, valued at $1,689,743.88. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock worth $5,475,122 over the last 90 days. Corporate insiders own 0.95% of the company’s stock.

About Fortive

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.