Panagora Asset Management Inc. Has $19.26 Million Stock Position in Fortive Corporation $FTV

Panagora Asset Management Inc. decreased its position in shares of Fortive Corporation (NYSE:FTV) by 35.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,393 shares of the technology company’s stock after selling 199,191 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.11% of Fortive worth $19,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FTV. Accent Capital Management LLC acquired a new stake in Fortive during the 1st quarter valued at approximately $26,000. True Wealth Design LLC grew its stake in Fortive by 815.4% during the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after purchasing an additional 424 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. Capital Analysts LLC boosted its position in shares of Fortive by 41.0% during the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after purchasing an additional 152 shares in the last quarter. Finally, Banque Transatlantique SA boosted its holdings in Fortive by 92.8% in the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FTV shares. Wall Street Zen raised shares of Fortive to a “hold” rating in a research report on Friday, September 5th. Robert W. Baird increased their target price on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Truist Financial reiterated a “hold” rating and issued a $58.00 price objective (up previously from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Fortive in a research report on Tuesday, November 25th. Finally, Barclays upped their price objective on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average target price of $57.38.

Insider Buying and Selling

In other news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.92% of the stock is currently owned by insiders.

Fortive Stock Performance

Shares of NYSE:FTV opened at $52.78 on Tuesday. 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 company has a 50-day moving average price of $50.29 and a 200-day moving average price of $54.44. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 3.22 and a beta of 1.13. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32.

Fortive (NYSE:FTV) last posted its earnings results 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 firm had revenue of $1.07 billion for the quarter. As a group, equities analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is presently 13.71%.

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.