Sumitomo Life Insurance Co. Has $621,000 Holdings in Fortive Co. (NYSE:FTV)

Sumitomo Life Insurance Co. decreased its position in shares of Fortive Co. (NYSE:FTV) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,274 shares of the technology company’s stock after selling 276 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Fortive were worth $621,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Parsons Capital Management Inc. RI increased its stake in Fortive by 57.7% during the 4th quarter. Parsons Capital Management Inc. RI now owns 28,863 shares of the technology company’s stock valued at $2,165,000 after purchasing an additional 10,557 shares in the last quarter. Webster Bank N. A. grew its holdings in shares of Fortive by 6.6% during the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock valued at $202,000 after buying an additional 168 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Fortive during the fourth quarter worth about $383,000. Blue Trust Inc. raised its holdings in shares of Fortive by 131.4% in the 4th quarter. Blue Trust Inc. now owns 4,115 shares of the technology company’s stock worth $325,000 after acquiring an additional 2,337 shares during the last quarter. Finally, Novare Capital Management LLC boosted its stake in Fortive by 9.0% during the 4th quarter. Novare Capital Management LLC now owns 94,638 shares of the technology company’s stock valued at $7,098,000 after purchasing an additional 7,844 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

Fortive stock opened at $81.65 on Friday. The business’s 50 day simple moving average is $77.46 and its 200 day simple moving average is $75.20. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a market cap of $28.33 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.15 and a beta of 1.14. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. Fortive’s payout ratio is 12.75%.

Wall Street Analysts Forecast Growth

FTV has been the subject of several analyst reports. Truist Financial increased their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. UBS Group assumed coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and an average target price of $86.45.

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.01% of the stock is owned by company insiders.

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.