Meiji Yasuda Asset Management Co Ltd. Has $1.47 Million Holdings in Fortive Co. (NYSE:FTV)

Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Fortive Co. (NYSE:FTV) by 3.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,603 shares of the technology company’s stock after buying an additional 695 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fortive were worth $1,470,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Flossbach Von Storch SE boosted its position in shares of Fortive by 1.2% during the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock valued at $892,743,000 after buying an additional 137,479 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Fortive by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after acquiring an additional 46,704 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares during the last quarter. Boston Partners lifted its position in shares of Fortive by 2.1% during the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company’s stock valued at $594,108,000 after purchasing an additional 166,123 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Fortive by 3.1% during the third 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 purchasing an additional 103,530 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey A. Walker sold 5,688 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the transaction, the senior vice president now directly owns 47,141 shares in the company, valued at approximately $3,795,793.32. The trade was a 10.77 % 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 in the last quarter. 1.01% of the stock is currently owned by corporate insiders.

Fortive Stock Performance

NYSE FTV opened at $75.17 on Thursday. The firm has a market cap of $25.58 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $78.56 and its 200-day moving average is $76.95. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $86.21.

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, beating 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 previous year, the business posted $0.98 EPS. Sell-side analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio is currently 13.56%.

Analysts Set New Price Targets

Several research firms have commented on FTV. Truist Financial increased their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Barclays decreased their target price on Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.18.

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.