NEOS Investment Management LLC Raises Holdings in Fortive Co. (NYSE:FTV)

NEOS Investment Management LLC raised its position in shares of Fortive Co. (NYSE:FTV) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,866 shares of the technology company’s stock after acquiring an additional 4,977 shares during the period. NEOS Investment Management LLC’s holdings in Fortive were worth $1,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTV. Flossbach Von Storch SE grew its holdings in shares of Fortive by 1.2% during the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock worth $892,743,000 after purchasing an additional 137,479 shares during the period. Geode Capital Management LLC lifted its position in 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 buying an additional 46,704 shares in the last quarter. Janus Henderson Group PLC grew its stake in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after buying an additional 977,428 shares during the period. Boston Partners increased its position in shares of Fortive by 2.1% in the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company’s stock worth $594,108,000 after acquiring an additional 166,123 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Fortive by 3.1% in the 3rd 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 acquiring an additional 103,530 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTV has been the subject of several recent research reports. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $86.00 in a report on Monday, December 9th. Truist Financial increased their target price on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Barclays lowered their price objective on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.18.

Fortive Stock Down 2.7 %

Shares of Fortive stock opened at $72.57 on Friday. The business has a 50-day moving average price of $78.35 and a 200 day moving average price of $76.97. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $85.93. The firm has a market cap of $24.69 billion, a P/E ratio of 30.75, a P/E/G 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.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the business posted $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 firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the transaction, the senior vice president now directly owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. This represents a 6.62 % 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, CEO James A. Lico sold 196,117 shares of the firm’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 value of $15,763,884.46. Following the completion of the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock valued at $19,508,529 in the last quarter. Insiders own 1.01% of the company’s stock.

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.