PGGM Investments Reduces Stake in Fortive Co. (NYSE:FTV)

PGGM Investments reduced its holdings in shares of Fortive Co. (NYSE:FTV) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,826 shares of the technology company’s stock after selling 819 shares during the quarter. PGGM Investments’ holdings in Fortive were worth $5,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Brighton Jones LLC grew its holdings in shares of Fortive by 5.3% during the 3rd quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock valued at $237,000 after purchasing an additional 160 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of Fortive by 4.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock valued at $260,000 after purchasing an additional 165 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Fortive by 17.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock valued at $80,000 after purchasing an additional 167 shares during the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Fortive by 2.6% during the 3rd quarter. Bahl & Gaynor Inc. now owns 7,433 shares of the technology company’s stock valued at $551,000 after purchasing an additional 189 shares during the last quarter. Finally, Guinness Asset Management LTD grew its holdings in shares of Fortive by 2.5% during the 3rd quarter. Guinness Asset Management LTD now owns 7,865 shares of the technology company’s stock valued at $583,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock valued at $5,475,122 over the last three months. 0.95% of the stock is owned by company insiders.

Fortive Stock Performance

Shares of FTV stock traded down $0.24 during trading hours on Friday, reaching $75.97. The company had a trading volume of 1,918,843 shares, compared to its average volume of 1,709,118. Fortive Co. has a one year low of $62.77 and a one year high of $87.10. The business has a fifty day moving average price of $83.83 and a 200-day moving average price of $76.13. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 1.50. The firm has a market cap of $26.74 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Sell-side analysts predict that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Wall Street Analyst Weigh In

FTV has been the topic of several recent research reports. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Truist Financial assumed coverage on shares of Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price target for the company. Citigroup dropped their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday. Barclays increased their price target on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company dropped their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.46.

About Fortive

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.