Gulf International Bank UK Ltd Lowers Stock Holdings in Fortive Co. (NYSE:FTV)

Gulf International Bank UK Ltd trimmed its stake in Fortive Co. (NYSE:FTV) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,648 shares of the technology company’s stock after selling 252 shares during the period. Gulf International Bank UK Ltd’s holdings in Fortive were worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FTV. Mizuho Securities USA LLC lifted its position in shares of Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after purchasing an additional 3,972,855 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock worth $152,899,000 after purchasing an additional 1,761,983 shares during the period. Janus Henderson Group PLC lifted its position in shares of Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after purchasing an additional 977,428 shares during the period. Holocene Advisors LP lifted its position in shares of Fortive by 1,014.1% in the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after purchasing an additional 841,671 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Fortive by 59.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after purchasing an additional 505,882 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares of the company’s stock, valued at approximately $1,941,425.85. This represents a 21.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at $42,509,043.38. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,298 shares of company stock worth $16,740,998 over the last 90 days. 1.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Argus reaffirmed a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Wells Fargo & Company boosted their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Royal Bank of Canada boosted their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, UBS Group initiated coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Trading Up 0.2 %

Shares of Fortive stock opened at $79.73 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The firm has a market capitalization of $27.66 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.68 and a beta of 1.15. The firm’s 50 day simple moving average is $78.70 and its two-hundred day simple moving average is $76.48.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter last year, the business posted $0.98 EPS. Analysts predict that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s payout ratio is currently 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.