Fortive Co. (NYSE:FTV) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,086 shares of the technology company's stock after selling 9,900 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Fortive were worth $9,300,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company's stock valued at $428,000 after purchasing an additional 2,811 shares during the period. Empowered Funds LLC increased its stake in Fortive by 14.4% in the 4th quarter. Empowered Funds LLC now owns 6,189 shares of the technology company's stock valued at $464,000 after buying an additional 779 shares during the period. Van ECK Associates Corp increased its stake in Fortive by 129.2% in the 4th quarter. Van ECK Associates Corp now owns 73,633 shares of the technology company's stock valued at $5,522,000 after buying an additional 41,506 shares during the period. Vontobel Holding Ltd. raised its position in Fortive by 4.7% during the 4th quarter. Vontobel Holding Ltd. now owns 6,148 shares of the technology company's stock worth $461,000 after buying an additional 276 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its stake in shares of Fortive by 4,321.7% in the 4th quarter. JFS Wealth Advisors LLC now owns 6,323 shares of the technology company's stock worth $474,000 after acquiring an additional 6,180 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 14,327 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $73.88, for a total value of $1,058,478.76. Following the completion of the transaction, the senior vice president now owns 51,750 shares of the company's stock, valued at approximately $3,823,290. The trade was a 21.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James A. Lico sold 175,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the sale, the chief executive officer now directly owns 428,585 shares in the company, valued at $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FTV has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Fortive from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research note on Monday, June 9th. Robert W. Baird lowered their price objective on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their target price on Fortive from $73.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Citigroup reduced their price target on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Barclays reaffirmed an "overweight" rating and set a $86.00 price objective (up previously from $84.00) on shares of Fortive in a report on Tuesday, June 3rd. Eight investment analysts have rated the stock with a hold rating and eight 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 price target of $82.62.

Fortive Trading Up 1.9%

Shares of FTV stock opened at $70.76 on Tuesday. The stock has a market cap of $24.05 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.68 and a beta of 1.11. 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 fifty-two week low of $60.39 and a fifty-two week high of $83.32. The business has a fifty day simple moving average of $69.46 and a 200-day simple moving average of $74.21.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The firm's revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 EPS. On average, analysts forecast that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 27th that permits the company to buyback 15,630,000 outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, May 30th. Fortive's payout ratio is currently 14.04%.

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.

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