The Manufacturers Life Insurance Company Sells 6,513 Shares of Fortive Co. (NYSE:FTV)

The Manufacturers Life Insurance Company decreased its stake in shares of Fortive Co. (NYSE:FTVFree Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 516,670 shares of the technology company’s stock after selling 6,513 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Fortive worth $38,042,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Fortive by 1.0% in the third quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock worth $1,415,902,000 after purchasing an additional 181,948 shares in the last quarter. Flossbach Von Storch AG increased its stake in shares of Fortive by 4.8% in the 4th quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after acquiring an additional 512,414 shares in the last quarter. Brown Advisory Inc. lifted its position in Fortive by 13.1% during the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after acquiring an additional 878,523 shares during the period. Northern Trust Corp boosted its stake in Fortive by 2.3% during the third quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock worth $288,254,000 after acquiring an additional 85,560 shares in the last quarter. Finally, Norges Bank purchased a new stake in Fortive in the fourth quarter worth about $268,686,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 0.5 %

Fortive stock opened at $73.25 on Friday. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The company has a market cap of $25.79 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.13 and a beta of 1.13. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $78.32 and a two-hundred day simple moving average of $77.57.

Fortive (NYSE:FTVGet Free Report) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Analysts predict that Fortive Co. will post 3.8 EPS for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Analyst Ratings Changes

FTV has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Citigroup cut their target price on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Barclays increased their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.46.

View Our Latest Analysis on FTV

About Fortive

(Free Report)

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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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