Securian Asset Management Inc. Has $1.40 Million Stock Position in Fortive Co. (NYSE:FTV)

Securian Asset Management Inc. reduced its holdings in shares of Fortive Co. (NYSE:FTV) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,646 shares of the technology company’s stock after selling 730 shares during the quarter. Securian Asset Management Inc.’s holdings in Fortive were worth $1,398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Flossbach Von Storch SE grew its holdings in shares of Fortive by 1.2% during the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock valued at $892,743,000 after buying an additional 137,479 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after purchasing an additional 46,704 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Fortive by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after purchasing an additional 103,530 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FTV shares. Truist Financial raised their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company raised their price target on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Barclays dropped their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Insider Transactions at Fortive

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the transaction, the chief accounting officer now owns 24,283 shares of the company’s stock, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the transaction, the senior vice president now directly owns 47,141 shares of the company’s stock, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock worth $19,508,529 over the last quarter. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

FTV opened at $73.83 on Friday. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.68 and a beta of 1.16. 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 50-day moving average price of $78.81 and a 200-day moving average price of $76.80. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the business earned $0.98 earnings per share. Equities analysts expect that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

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

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.