Charles Schwab Investment Management Inc. Raises Position in Fortive Co. (NYSE:FTV)

Charles Schwab Investment Management Inc. raised its holdings in shares of Fortive Co. (NYSE:FTV) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,014,318 shares of the technology company’s stock after acquiring an additional 49,529 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Fortive were worth $151,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FTV. Flossbach Von Storch SE boosted its holdings in Fortive by 1.2% during the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock valued at $892,743,000 after acquiring an additional 137,479 shares during the period. Geode Capital Management LLC boosted its holdings in Fortive by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after acquiring an additional 46,704 shares during the period. Janus Henderson Group PLC boosted its holdings in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after acquiring an additional 977,428 shares during the period. Mizuho Securities USA LLC boosted its holdings in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after acquiring an additional 3,972,855 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Fortive by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after acquiring an additional 103,530 shares during the period. 94.94% of the stock is owned by institutional investors.

Fortive Stock Down 0.8 %

Shares of NYSE:FTV opened at $76.58 on Friday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The firm has a market capitalization of $26.06 billion, a P/E ratio of 32.45, a P/E/G ratio of 2.68 and a beta of 1.15. The stock has a 50 day moving average price of $78.95 and a 200-day moving average price of $76.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company posted $0.98 earnings per share. As a group, equities research analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is currently 13.56%.

Insider Transactions at Fortive

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total value of $519,115.35. Following the sale, the chief accounting officer now owns 24,283 shares in the company, valued at $1,941,425.85. This represents a 21.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the sale, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. The trade was a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,385 shares of company stock valued at $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the subject of several analyst reports. Barclays dropped their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Argus restated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Truist Financial increased their target price on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group assumed coverage on Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

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.