Perpetual Ltd Invests $11.24 Million in Fortive Co. (NYSE:FTV)

Perpetual Ltd acquired a new position in Fortive Co. (NYSE:FTV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 149,844 shares of the technology company’s stock, valued at approximately $11,238,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FTV. Geode Capital Management LLC raised its stake in Fortive by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after acquiring an additional 46,704 shares during the period. Janus Henderson Group PLC raised its position in shares of Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares during the period. Mizuho Securities USA LLC raised its position in shares of Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after buying an additional 103,530 shares during the period. Finally, Select Equity Group L.P. increased its stake in Fortive by 6.8% in the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after buying an additional 168,368 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Up 0.4 %

FTV opened at $79.00 on Tuesday. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. 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 stock has a 50-day moving average of $76.68 and a 200 day moving average of $74.84. The firm has a market cap of $27.41 billion, a P/E ratio of 31.47, a P/E/G ratio of 2.12 and a beta of 1.14.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, research analysts forecast that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada cut their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Truist Financial upped their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, UBS Group assumed coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.45.

Fortive 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.