Fortive Corporation (NYSE:FTV) Shares Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its position in shares of Fortive Corporation (NYSE:FTV - Free Report) by 238.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,911 shares of the technology company's stock after purchasing an additional 167,652 shares during the period. Robeco Institutional Asset Management B.V. owned 0.07% of Fortive worth $17,410,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FTV. Brighton Jones LLC boosted its stake in shares of Fortive by 97.1% during 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. Whipplewood Advisors LLC acquired a new stake in shares of Fortive in the fourth quarter worth approximately $31,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of Fortive by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 136,986 shares of the technology company's stock worth $10,274,000 after acquiring an additional 2,300 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Fortive in the fourth quarter worth approximately $5,847,000. Finally, QRG Capital Management Inc. boosted its position in shares of Fortive by 2.9% in the fourth quarter. QRG Capital Management Inc. now owns 20,043 shares of the technology company's stock worth $1,503,000 after acquiring an additional 558 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Up 0.6%

Shares of FTV traded up $0.41 during mid-day trading on Friday, reaching $71.63. 2,983,250 shares of the stock traded hands, compared to its average volume of 2,665,042. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 2.97 and a beta of 1.11. The stock has a fifty day simple moving average of $70.28 and a 200 day simple moving average of $73.72. Fortive Corporation has a 12-month low of $60.39 and a 12-month high of $83.32. The company has a quick ratio of 0.78, a current ratio of 0.99 and a debt-to-equity ratio of 0.29.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The business's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. Sell-side analysts expect that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive announced that its board has authorized a stock repurchase plan on Tuesday, May 27th that allows the company to buyback 15,630,000 shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Fortive Dividend Announcement

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

Insider Transactions at Fortive

In other Fortive 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 transaction, the chief executive officer now owns 428,585 shares of the company's stock, valued at $31,029,554. This trade represents a 28.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Peter C. Underwood sold 14,327 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president now owns 51,750 shares of the company's stock, valued at $3,823,290. This trade represents a 21.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FTV shares. Truist Financial decreased their target price on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Citigroup decreased their target price on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Robert W. Baird decreased their target price on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. BNP Paribas reissued a "neutral" rating on shares of Fortive in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Fortive from $73.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Fortive has an average rating of "Moderate Buy" and an average target price of $82.62.

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.