Fortive Corporation $FTV Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Fortive Corporation (NYSE:FTV) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 80,840 shares of the technology company’s stock, valued at approximately $4,431,000.

Several other large investors also recently made changes to their positions in FTV. Vise Technologies Inc. purchased a new position in Fortive in the 3rd quarter worth about $421,000. Soltis Investment Advisors LLC raised its holdings in Fortive by 18.5% during the 3rd quarter. Soltis Investment Advisors LLC now owns 6,517 shares of the technology company’s stock worth $357,000 after buying an additional 1,017 shares during the period. Generali Asset Management SPA SGR lifted its stake in Fortive by 1.9% during the third quarter. Generali Asset Management SPA SGR now owns 27,813 shares of the technology company’s stock valued at $1,524,000 after buying an additional 522 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Fortive by 3.2% during the third quarter. Asset Management One Co. Ltd. now owns 178,349 shares of the technology company’s stock valued at $9,775,000 after buying an additional 5,476 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Fortive by 18.9% in the third quarter. Apollon Wealth Management LLC now owns 4,697 shares of the technology company’s stock worth $257,000 after buying an additional 748 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Truist Financial restated a “hold” rating and issued a $65.00 target price (up from $63.00) on shares of Fortive in a report on Thursday, October 29th. Evercore started coverage on Fortive in a research report on Monday, September 28th. They set a “hold” rating and a $60.00 price target on the stock. Citigroup increased their price objective on Fortive from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Weiss Ratings raised Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Finally, Argus reaffirmed a “buy” rating and set a $68.00 target price on shares of Fortive in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Fortive currently has a consensus rating of “Reduce” and an average price target of $64.36.

Insider Activity

In other Fortive news, CAO Christopher M. Mulhall sold 17,962 shares of Fortive stock in a transaction on Friday, October 30th. The shares were sold at an average price of $65.56, for a total transaction of $1,177,588.72. Following the sale, the chief accounting officer owned 44,598 shares in the company, valued at $2,923,844.88. The trade was a 28.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter Underwood sold 48,442 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $64.60, for a total transaction of $3,129,353.20. Following the completion of the sale, the senior vice president directly owned 79,118 shares in the company, valued at $5,111,022.80. This trade represents a 37.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 83,159 shares of company stock worth $5,371,093. Insiders own 0.65% of the company’s stock.

Fortive Stock Performance

FTV traded down $0.05 on Friday, hitting $65.37. The company had a trading volume of 3,568,010 shares, compared to its average volume of 2,704,324. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.98. The company’s fifty day moving average price is $58.42 and its 200 day moving average price is $58.94. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.68 and a beta of 1.03. Fortive Corporation has a 1-year low of $49.99 and a 1-year high of $68.94.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 28th. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. Fortive had a net margin of 14.83% and a return on equity of 15.79%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts predict that Fortive Corporation will post 3.12 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, November 27th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, November 27th. This represents a $0.28 annualized dividend and a dividend yield of 0.4%. Fortive’s payout ratio is presently 13.33%.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company’s portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.