Meiji Yasuda Asset Management Co Ltd. Has $1.47 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Fortive Co. (NYSE:FTV) by 3.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,603 shares of the technology company’s stock after buying an additional 695 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Fortive were worth $1,470,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Whipplewood Advisors LLC bought a new position in Fortive in the fourth quarter valued at about $31,000. Versant Capital Management Inc boosted its stake in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Fortive during the 4th quarter valued at approximately $37,000. Albion Financial Group UT acquired a new position in Fortive during the 4th quarter worth approximately $38,000. Finally, Dakota Community Bank & Trust NA lifted its stake in Fortive by 28.6% in the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after purchasing an additional 175 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the transaction, the senior vice president now owns 42,373 shares in the company, valued at approximately $3,349,585.65. This represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now owns 528,851 shares of the company’s stock, valued at approximately $42,509,043.38. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock worth $19,508,529 in the last quarter. 1.01% of the stock is owned by corporate insiders.

Fortive Price Performance

Shares of NYSE FTV opened at $75.17 on Thursday. The company has a market capitalization of $25.58 billion, a PE ratio of 31.85, a P/E/G ratio of 2.68 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $86.21. The firm has a fifty day simple moving average of $78.56 and a 200 day simple moving average of $76.95.

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 return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the firm posted $0.98 earnings per share. On average, sell-side analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is 13.56%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. reduced their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada increased their target price on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Wells Fargo & Company boosted their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Finally, Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average target price of $87.18.

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.