Aigen Investment Management LP Takes Position in Fortive Co. (NYSE:FTV)

Aigen Investment Management LP purchased a new stake in Fortive Co. (NYSE:FTV) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,194 shares of the technology company’s stock, valued at approximately $309,000.

A number of other large investors also recently bought and sold shares of FTV. Assetmark Inc. raised its position in Fortive by 61.2% during the fourth quarter. Assetmark Inc. now owns 17,929 shares of the technology company’s stock worth $1,320,000 after acquiring an additional 6,810 shares during the period. BNP Paribas Asset Management Holding S.A. increased its stake in shares of Fortive by 63.1% during the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 1,127,778 shares of the technology company’s stock worth $83,038,000 after purchasing an additional 436,234 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Fortive during the 4th quarter worth about $1,039,000. Trexquant Investment LP purchased a new position in Fortive in the 4th quarter valued at about $3,823,000. Finally, Corient Private Wealth LLC boosted its holdings in Fortive by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 113,788 shares of the technology company’s stock worth $8,378,000 after buying an additional 2,635 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 0.4 %

Shares of NYSE FTV opened at $75.89 on Friday. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The company has a market capitalization of $26.72 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.22 and a beta of 1.15. The company has a 50 day simple moving average of $80.43 and a 200-day simple moving average of $77.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. On average, equities research analysts predict that Fortive Co. will post 3.81 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.08 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive’s payout ratio is currently 12.65%.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the sale, the senior vice president now owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of research analyst reports. Truist Financial initiated coverage on Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price for the company. Royal Bank of Canada lowered their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 25th. Mizuho increased their target price on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.46.

About Fortive

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.