Swiss National Bank Has $74.22 Million Stock Position in Fortive Co. (NYSE:FTV)

Swiss National Bank trimmed its stake in Fortive Co. (NYSE:FTV) by 5.3% during the fourth quarter, Holdings Channel reports. The fund owned 989,600 shares of the technology company’s stock after selling 55,300 shares during the quarter. Swiss National Bank’s holdings in Fortive were worth $74,220,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Fortive during the 4th quarter valued at $5,238,000. Sequoia Financial Advisors LLC increased its stake in Fortive by 8.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 10,704 shares of the technology company’s stock valued at $803,000 after acquiring an additional 876 shares during the period. King Luther Capital Management Corp lifted its stake in Fortive by 2.6% during the fourth quarter. King Luther Capital Management Corp now owns 584,627 shares of the technology company’s stock worth $43,847,000 after purchasing an additional 14,683 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Fortive by 57.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 4,791 shares of the technology company’s stock valued at $359,000 after purchasing an additional 1,749 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Fortive in the 4th quarter valued at approximately $17,750,000. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 5,688 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares of the company’s stock, valued at $3,795,793.32. The trade was a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,385 shares of company stock valued at $19,508,529. Company insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FTV. Truist Financial boosted their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and cut their price target for the company from $92.00 to $86.00 in a report on Monday, December 9th. Argus restated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Finally, Wells Fargo & Company raised their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Trading Up 2.8 %

FTV stock opened at $73.83 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a market cap of $25.12 billion, a P/E ratio of 31.28, a PEG ratio of 2.68 and a beta of 1.16. The business has a fifty day moving average of $78.81 and a 200-day moving average of $76.82.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts expect that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s payout ratio is presently 13.56%.

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.