The Manufacturers Life Insurance Company Has $107.27 Million Stock Position in Fortive Co. (NYSE:FTV)

The Manufacturers Life Insurance Company increased its holdings in shares of Fortive Co. (NYSE:FTV) by 59.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,359,069 shares of the technology company’s stock after purchasing an additional 505,882 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.39% of Fortive worth $107,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after acquiring an additional 51,690 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after acquiring an additional 226 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after acquiring an additional 45,032 shares in the last quarter. Addenda Capital Inc. boosted its holdings in Fortive by 8.8% in the second quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock worth $7,298,000 after acquiring an additional 7,936 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Fortive by 111.3% in the second quarter. Blue Trust Inc. now owns 541 shares of the technology company’s stock worth $40,000 after acquiring an additional 285 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Thursday, September 5th. UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Wells Fargo & Company dropped their target price on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Truist Financial dropped their target price on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Royal Bank of Canada dropped their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock valued at $14,261,051 over the last ninety days. 1.01% of the stock is currently owned by insiders.

Fortive Stock Performance

Shares of FTV opened at $78.94 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $27.39 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.15 and a beta of 1.13. The stock has a 50 day moving average of $76.06 and a 200 day moving average of $74.17. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $0.85 earnings per share. Fortive’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

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.