Nomura Asset Management Co. Ltd. Boosts Stock Holdings in Fortive Co. (NYSE:FTV)

Nomura Asset Management Co. Ltd. increased its position in shares of Fortive Co. (NYSE:FTV) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 148,575 shares of the technology company’s stock after buying an additional 4,166 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Fortive were worth $11,143,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in shares of Fortive by 12.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,627 shares of the technology company’s stock valued at $918,000 after purchasing an additional 1,293 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Fortive by 11.1% in the third quarter. Public Sector Pension Investment Board now owns 15,065 shares of the technology company’s stock valued at $1,189,000 after buying an additional 1,500 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Fortive during the 3rd quarter worth approximately $204,000. Verition Fund Management LLC lifted its position in shares of Fortive by 118.5% during the 3rd quarter. Verition Fund Management LLC now owns 75,239 shares of the technology company’s stock valued at $5,939,000 after buying an additional 40,800 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fortive in the 3rd quarter valued at $165,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the transaction, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. This represents a 21.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now directly owns 528,851 shares of the company’s stock, valued at $42,509,043.38. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock valued at $19,508,529 in the last quarter. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. 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 report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays lowered their price target on Fortive from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company increased their price objective on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Seven investment 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $87.18.

Fortive Stock Down 2.7 %

NYSE FTV opened at $72.57 on Monday. The business’s fifty day simple moving average is $78.35 and its 200-day simple moving average is $77.00. 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 firm has a market cap of $24.69 billion, a PE ratio of 30.75, a P/E/G 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 $85.93.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 EPS 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 EPS. As a group, equities analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a $0.08 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. Fortive’s dividend payout ratio is currently 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.