Taikang Asset Management Hong Kong Co Ltd Purchases 13,400 Shares of Fortive Co. (NYSE:FTV)

Taikang Asset Management Hong Kong Co Ltd raised its position in shares of Fortive Co. (NYSE:FTV) by 25.0% in the 4th quarter, Holdings Channel reports. The firm owned 67,000 shares of the technology company’s stock after acquiring an additional 13,400 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in Fortive were worth $5,025,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Fortive during the 4th quarter worth $31,000. Versant Capital Management Inc raised its stake in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after acquiring an additional 297 shares in the last quarter. Crews Bank & Trust bought a new position in shares of Fortive in the fourth quarter worth about $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive in the 4th quarter valued at approximately $38,000. Finally, Dakota Community Bank & Trust NA grew its holdings in shares of Fortive by 28.6% during the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after purchasing an additional 175 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and cut their price target for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada upped their price objective on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Seven 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 an average target price of $87.64.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the completion of the sale, the senior vice president now owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares of the company’s stock, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock valued at $19,508,529 over the last 90 days. Company insiders own 1.01% of the company’s stock.

Fortive Stock Up 1.5 %

Fortive stock opened at $75.92 on Tuesday. The firm has a market cap of $25.83 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 2.68 and a beta of 1.16. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $86.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The firm has a 50 day moving average price of $78.64 and a two-hundred day moving average price of $76.92.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Equities 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 given 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 0.42%. Fortive’s payout ratio is 13.56%.

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.