Fortive Co. (NYSE:FTV) Stake Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Fortive Co. (NYSE:FTV) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,380 shares of the technology company’s stock after acquiring an additional 627 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Fortive were worth $3,404,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Fortive by 65.0% in the third quarter. GAMMA Investing LLC now owns 1,683 shares of the technology company’s stock worth $133,000 after purchasing an additional 663 shares in the last quarter. Mather Group LLC. lifted its holdings in Fortive by 50.3% during the 3rd quarter. Mather Group LLC. now owns 926 shares of the technology company’s stock worth $73,000 after buying an additional 310 shares during the last quarter. CWM LLC grew its position in shares of Fortive by 5.3% in the 3rd quarter. CWM LLC now owns 10,031 shares of the technology company’s stock worth $792,000 after acquiring an additional 508 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Fortive by 5.5% in the 3rd quarter. Wedmont Private Capital now owns 3,209 shares of the technology company’s stock valued at $245,000 after acquiring an additional 168 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Fortive by 276.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,043 shares of the technology company’s stock valued at $161,000 after acquiring an additional 1,500 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTV has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Argus reaffirmed a “hold” rating on shares of Fortive in a research report on Monday, November 18th. JPMorgan Chase & Co. dropped their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company lifted their target price on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Finally, Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.45.

Fortive Trading Down 0.9 %

Shares of FTV stock opened at $79.12 on Monday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market capitalization of $27.45 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. The stock has a fifty day moving average of $77.65 and a two-hundred day moving average of $75.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last posted 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 net margin of 14.35% and a return on equity of 12.56%. During the same period in the prior year, the company earned $0.98 earnings per share. As a group, research analysts expect that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s payout ratio is 12.75%.

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.