Taikang Asset Management Hong Kong Co Ltd Has $5.03 Million Stake in Fortive Co. (NYSE:FTV)

Taikang Asset Management Hong Kong Co Ltd raised its holdings in Fortive Co. (NYSE:FTV) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 67,000 shares of the technology company’s stock after acquiring an additional 13,400 shares during the quarter. Taikang Asset Management Hong Kong Co Ltd’s holdings in Fortive were worth $5,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in Fortive by 3.3% in the third quarter. Empowered Funds LLC now owns 5,410 shares of the technology company’s stock valued at $427,000 after purchasing an additional 174 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fortive by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company’s stock valued at $155,081,000 after acquiring an additional 24,539 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Fortive by 4.7% in the 3rd quarter. Raymond James Trust N.A. now owns 10,404 shares of the technology company’s stock valued at $821,000 after acquiring an additional 468 shares during the last quarter. Cerity Partners LLC raised its position in shares of Fortive by 5.4% in the 3rd quarter. Cerity Partners LLC now owns 64,235 shares of the technology company’s stock valued at $5,070,000 after acquiring an additional 3,295 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in Fortive by 20.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 9,120 shares of the technology company’s stock worth $720,000 after acquiring an additional 1,538 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the transaction, the senior vice president now directly owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher M. Mulhall sold 6,493 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the sale, the chief accounting officer now owns 24,283 shares of the company’s stock, valued at approximately $1,941,425.85. This trade represents a 21.10 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Fortive Stock Up 1.5 %

Shares of FTV opened at $75.92 on Tuesday. The firm’s 50-day simple moving average is $78.64 and its 200 day simple moving average is $76.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The firm has a market cap of $25.83 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $86.21.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.98 EPS. On average, analysts forecast that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is 13.56%.

Analyst Ratings Changes

Several research firms have weighed in on FTV. Truist Financial increased their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on 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 raised their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Barclays decreased their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and dropped their target price for the stock 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.64.

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.