Hikari Power Ltd Decreases Holdings in Fortive Co. (NYSE:FTV)

Hikari Power Ltd reduced its position in Fortive Co. (NYSE:FTV) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 64,700 shares of the technology company’s stock after selling 900 shares during the period. Hikari Power Ltd’s holdings in Fortive were worth $4,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Fortive during the third quarter worth about $25,000. Versant Capital Management Inc increased its stake in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Fortive during the 4th quarter worth approximately $37,000. Albion Financial Group UT purchased a new stake in Fortive in the 4th quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Fortive during the 3rd quarter valued at $57,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FTV shares. Royal Bank of Canada boosted their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Argus restated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Finally, Barclays lowered their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.64.

Fortive Price Performance

FTV stock opened at $80.03 on Friday. The company has a market cap of $27.77 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $78.20 and a two-hundred day moving average price of $76.13. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, research analysts predict that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s payout ratio is 13.56%.

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.