Fortive Co. (NYSE:FTV) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Fortive Co. (NYSE:FTV) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,380 shares of the technology company’s stock after purchasing an additional 627 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Fortive were worth $3,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Fortive in the third quarter valued at $25,000. Versant Capital Management Inc grew its holdings in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after acquiring an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Fortive during the fourth quarter worth $37,000. Albion Financial Group UT purchased a new stake in Fortive during the fourth quarter valued at about $38,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Fortive during the third quarter valued at approximately $41,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

FTV stock opened at $79.12 on Monday. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 2.14 and a beta of 1.15. The firm has a 50 day moving average of $77.65 and a two-hundred day moving average of $75.36. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, equities analysts anticipate that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Announces Dividend

The business 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 $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FTV. Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Wells Fargo & Company lifted their price target on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. UBS Group initiated coverage on Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Truist Financial upped 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.45.

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.