B. Metzler seel. Sohn & Co. Holding AG Purchases New Stake in Fortive Co. (NYSE:FTV)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Fortive Co. (NYSE:FTV) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 65,188 shares of the technology company’s stock, valued at approximately $5,145,000.

Several other large investors also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Fortive in the third quarter valued at about $25,000. Ridgewood Investments LLC purchased a new stake in shares of Fortive during the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC purchased a new position in Fortive in the 2nd quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in Fortive in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This represents a 17.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock worth $14,261,051 in the last 90 days. 1.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on FTV. Wells Fargo & Company decreased their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price on the stock. Truist Financial cut their price target on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Royal Bank of Canada lowered their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.82.

Fortive Stock Performance

Shares of FTV opened at $74.50 on Wednesday. The stock has a market capitalization of $25.85 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The business’s fifty day moving average price is $75.62 and its 200 day moving average price is $74.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is 12.75%.

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.