Mirae Asset Global Investments Co. Ltd. Has $3.07 Million Stock Holdings in Fortive Corporation (NYSE:FTV)

Mirae Asset Global Investments Co. Ltd. increased its position in Fortive Corporation (NYSE:FTV - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,207 shares of the technology company's stock after purchasing an additional 4,705 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Fortive were worth $3,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company's stock worth $428,000 after purchasing an additional 2,811 shares during the last quarter. SVB Wealth LLC acquired a new position in Fortive in the fourth quarter valued at about $338,000. Smartleaf Asset Management LLC lifted its stake in Fortive by 23.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,880 shares of the technology company's stock valued at $216,000 after buying an additional 555 shares during the period. Jones Financial Companies Lllp boosted its holdings in Fortive by 23.2% during the fourth quarter. Jones Financial Companies Lllp now owns 5,869 shares of the technology company's stock worth $440,000 after buying an additional 1,104 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Fortive by 11.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,836 shares of the technology company's stock worth $213,000 after buying an additional 282 shares during the period. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FTV shares. BNP Paribas reaffirmed a "neutral" rating on shares of Fortive in a research note on Thursday, June 12th. Raymond James Financial cut their price objective on Fortive from $90.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday. Barclays reiterated an "overweight" rating and issued a $86.00 price objective (up from $84.00) on shares of Fortive in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. dropped their target price on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Robert W. Baird lowered their price objective on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.08.

Insider Activity at Fortive

In related news, CEO James A. Lico sold 175,000 shares of the stock in a transaction that occurred on 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 owned 428,585 shares of the company's stock, valued at $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Peter C. Underwood sold 14,327 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $73.88, for a total value of $1,058,478.76. Following the transaction, the senior vice president owned 51,750 shares in the company, valued at approximately $3,823,290. This trade represents a 21.68% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.92% of the company's stock.

Fortive Stock Down 0.6%

FTV stock traded down $0.33 during midday trading on Friday, hitting $53.01. The company's stock had a trading volume of 2,484,750 shares, compared to its average volume of 2,738,491. The company's fifty day moving average price is $69.19 and its 200 day moving average price is $73.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.78. Fortive Corporation has a twelve month low of $50.00 and a twelve month high of $83.32. The stock has a market capitalization of $18.02 billion, a P/E ratio of 23.25, a PEG ratio of 2.21 and a beta of 1.09.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the business earned $0.83 earnings per share. The firm's revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive declared that its board has approved a share buyback plan on Tuesday, May 27th that authorizes the company to repurchase 15,630,000 shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.