Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Fortive Co. (NYSE:FTV – Get Rating) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 996,619 shares of the technology company’s stock after acquiring an additional 26,878 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Fortive worth $64,033,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FTV. Gradient Investments LLC acquired a new position in Fortive during the fourth quarter worth $26,000. Kistler Tiffany Companies LLC boosted its stake in shares of Fortive by 317.0% during the 4th quarter. Kistler Tiffany Companies LLC now owns 417 shares of the technology company’s stock worth $27,000 after buying an additional 317 shares during the last quarter. Core Alternative Capital grew its holdings in shares of Fortive by 98.2% in the 3rd quarter. Core Alternative Capital now owns 555 shares of the technology company’s stock valued at $32,000 after acquiring an additional 275 shares in the last quarter. Baldwin Brothers LLC MA acquired a new stake in shares of Fortive in the fourth quarter valued at about $39,000. Finally, General Partner Inc. bought a new stake in Fortive during the fourth quarter worth about $39,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.
Fortive Stock Performance
NYSE:FTV opened at $67.17 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.71 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $66.76 and a 200 day simple moving average of $65.39. Fortive Co. has a 1-year low of $52.47 and a 1-year high of $69.78. The stock has a market cap of $23.72 billion, a P/E ratio of 31.99, a PEG ratio of 2.54 and a beta of 1.14.
Fortive Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, May 26th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $0.28 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio is presently 13.33%.
Wall Street Analyst Weigh In
FTV has been the topic of several recent analyst reports. Mizuho boosted their price target on Fortive from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 13th. JPMorgan Chase & Co. increased their price target on shares of Fortive from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Citigroup boosted their price objective on shares of Fortive from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. StockNews.com initiated coverage on shares of Fortive in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company boosted their price target on Fortive from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.08.
Insider Activity
In related news, SVP Stacey A. Walker sold 1,336 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $66.39, for a total transaction of $88,697.04. Following the sale, the senior vice president now owns 37,946 shares of the company’s stock, valued at $2,519,234.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Stacey A. Walker sold 1,336 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $66.39, for a total transaction of $88,697.04. Following the completion of the sale, the senior vice president now directly owns 37,946 shares in the company, valued at approximately $2,519,234.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 3,249 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $67.75, for a total value of $220,119.75. Following the completion of the transaction, the senior vice president now owns 32,721 shares in the company, valued at approximately $2,216,847.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,648 shares of company stock worth $450,483. Corporate insiders own 0.79% of the company’s stock.
About Fortive
Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.
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