Ossiam Sells 1,867 Shares of Fortive Co. (NYSE:FTV)

Ossiam decreased its holdings in shares of Fortive Co. (NYSE:FTV) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,618 shares of the technology company’s stock after selling 1,867 shares during the period. Ossiam’s holdings in Fortive were worth $1,471,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First Hawaiian Bank increased its position in Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after buying an additional 10,125 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after acquiring an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Fortive by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after purchasing an additional 7,829 shares during the last quarter. Nordea Investment Management AB boosted its stake in Fortive by 23.9% in the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after purchasing an additional 303,788 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in Fortive during the 4th quarter valued at about $358,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Up 0.7 %

Shares of FTV stock opened at $65.44 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market cap of $22.27 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.68 and a beta of 1.12. Fortive Co. has a 1 year low of $60.39 and a 1 year high of $83.32. The firm has a fifty day moving average price of $73.76 and a 200-day moving average price of $75.84.

Fortive (NYSE:FTV) last issued its quarterly 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 return on equity of 13.15% and a net margin of 13.36%. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, equities analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, May 30th. Fortive’s dividend payout ratio is currently 13.56%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the sale, the senior vice president now directly owns 42,373 shares of the company’s stock, valued at $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at $42,509,043.38. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock valued at $19,508,529 over the last three months. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup decreased their target price on shares of Fortive from $84.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, April 14th. 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 report on Monday, February 10th. Truist Financial reduced their target price on Fortive from $90.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company upped their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Finally, BNP Paribas downgraded Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price objective for the company. in a report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $81.92.

Fortive Company 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.