National Pension Service Boosts Stake in Fortive Corporation $FTV

National Pension Service boosted its position in shares of Fortive Corporation (NYSE:FTV) by 0.8% in the second quarter, HoldingsChannel.com reports. The fund owned 521,615 shares of the technology company’s stock after purchasing an additional 3,973 shares during the period. National Pension Service’s holdings in Fortive were worth $27,192,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after acquiring an additional 2,811 shares in the last quarter. CWM LLC boosted its holdings in Fortive by 15.3% in the 1st quarter. CWM LLC now owns 11,576 shares of the technology company’s stock valued at $847,000 after purchasing an additional 1,539 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Fortive by 1.2% during the first quarter. Wealthfront Advisers LLC now owns 37,960 shares of the technology company’s stock worth $2,778,000 after acquiring an additional 446 shares during the period. Larson Financial Group LLC lifted its position in shares of Fortive by 459.7% during the 1st quarter. Larson Financial Group LLC now owns 806 shares of the technology company’s stock valued at $59,000 after acquiring an additional 662 shares during the period. Finally, Dynasty Wealth Management LLC increased its position in shares of Fortive by 1.6% in the first quarter. Dynasty Wealth Management LLC now owns 14,661 shares of the technology company’s stock valued at $1,073,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FTV. Truist Financial restated a “hold” rating and issued a $58.00 target price (up from $55.00) on shares of Fortive in a report on Thursday, October 30th. Citigroup upped their price objective on shares of Fortive from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Barclays boosted their price objective on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Morgan Stanley upped their price target on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised Fortive to a “hold” rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Fortive currently has an average rating of “Hold” and an average target price of $57.38.

Fortive Trading Down 0.6%

Shares of NYSE:FTV opened at $51.62 on Friday. The firm has a fifty day moving average price of $49.48 and a 200 day moving average price of $56.02. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $16.40 billion, a PE ratio of 29.50, a P/E/G ratio of 3.13 and a beta of 1.16.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The business had revenue of $1.07 billion during the quarter. Analysts expect that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s dividend payout ratio is currently 13.71%.

Insider Buying and Selling

In related news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% 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.