Daiwa Securities Group Inc. Trims Position in Fortive Co. (NYSE:FTV)

Daiwa Securities Group Inc. lowered its position in shares of Fortive Co. (NYSE:FTV) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,075 shares of the technology company’s stock after selling 3,871 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Fortive were worth $6,083,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in shares of Fortive in the first quarter valued at $32,000. Silvercrest Asset Management Group LLC grew its holdings in Fortive by 30.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 9,559 shares of the technology company’s stock valued at $822,000 after buying an additional 2,250 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Fortive by 18.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,628 shares of the technology company’s stock valued at $312,000 after purchasing an additional 557 shares during the period. California State Teachers Retirement System grew its stake in shares of Fortive by 1.0% during the 1st quarter. California State Teachers Retirement System now owns 583,166 shares of the technology company’s stock valued at $50,164,000 after buying an additional 6,007 shares during the period. Finally, Plato Investment Management Ltd grew its position in Fortive by 23,512.3% during the first quarter. Plato Investment Management Ltd now owns 17,237 shares of the technology company’s stock valued at $1,483,000 after acquiring an additional 17,164 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 17.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,895 shares of company stock valued at $14,261,051. Company insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FTV. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Barclays cut their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Thursday, September 5th. Finally, Truist Financial reduced their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.82.

Fortive Stock Down 0.9 %

Fortive stock opened at $78.94 on Wednesday. The firm has a market capitalization of $27.39 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.15 and a beta of 1.13. The company has a 50-day simple moving average of $76.06 and a 200-day simple moving average of $74.17. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, equities analysts expect that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s payout ratio is 12.75%.

Fortive 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.