Nippon Life Global Investors Americas Inc. reduced its stake in Fortive Corp (NYSE:FTV) by 78.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,160 shares of the technology company’s stock after selling 113,590 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Fortive were worth $2,255,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Fortive by 1.7% during the fourth quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock worth $1,447,996,000 after buying an additional 336,327 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Fortive by 2.7% in the 4th quarter. Brown Advisory Inc. now owns 6,447,021 shares of the technology company’s stock valued at $466,443,000 after purchasing an additional 168,219 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Fortive by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,887,383 shares of the technology company’s stock valued at $281,251,000 after purchasing an additional 101,819 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Fortive by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 3,852,139 shares of the technology company’s stock valued at $278,702,000 after purchasing an additional 14,898 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Fortive by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 3,451,046 shares of the technology company’s stock valued at $249,190,000 after purchasing an additional 69,989 shares in the last quarter. Institutional investors and hedge funds own 81.23% of the company’s stock.
Fortive Corp (FTV) traded down $0.44 on Wednesday, reaching $77.61. 1,180,000 shares of the company traded hands, compared to its average volume of 1,920,000. The firm has a market capitalization of $26,970.00 and a price-to-earnings ratio of 28.12. Fortive Corp has a 52-week low of $58.15 and a 52-week high of $80.31. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Thursday, February 22nd. Fortive’s dividend payout ratio (DPR) is presently 10.14%.
A number of research firms have recently issued reports on FTV. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Friday, March 9th. Barclays assumed coverage on Fortive in a research report on Thursday, February 15th. They set an “overweight” rating and a $86.00 price objective for the company. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Wednesday, February 14th. BMO Capital Markets cut their price target on Fortive from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Fortive in a research note on Friday, February 9th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fortive currently has a consensus rating of “Hold” and a consensus target price of $77.50.
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Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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