MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Position in Fortive Co. (NYSE:FTV)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,519,730 shares of the technology company's stock after acquiring an additional 136,823 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.73% of Fortive worth $188,982,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dodge & Cox acquired a new stake in shares of Fortive in the 4th quarter valued at about $583,493,000. Norges Bank bought a new stake in shares of Fortive during the fourth quarter valued at approximately $412,445,000. Price T Rowe Associates Inc. MD raised its position in shares of Fortive by 164.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company's stock worth $654,763,000 after purchasing an additional 5,429,566 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Fortive by 9.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company's stock worth $3,221,036,000 after purchasing an additional 3,810,997 shares in the last quarter. Finally, Third Point LLC bought a new stake in Fortive during the 4th quarter valued at $142,500,000. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FTV shares. StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Robert W. Baird dropped their target price on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Truist Financial decreased their price target on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price objective on Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays lowered their target price on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Fortive currently has a consensus rating of "Moderate Buy" and an average price target of $80.85.

Fortive Stock Performance

Shares of NYSE FTV traded down $0.33 during trading on Thursday, reaching $72.37. 3,861,518 shares of the stock traded hands, compared to its average volume of 2,485,056. The company has a 50-day moving average of $69.84 and a 200-day moving average of $74.88. Fortive Co. has a 52-week low of $60.39 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The stock has a market capitalization of $24.60 billion, a P/E ratio of 30.67, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.49 billion. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 EPS. Analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. Fortive's payout ratio is 14.04%.

Insiders Place Their Bets

In other news, CEO James A. Lico sold 196,117 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. The trade was a 27.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 5,688 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. The trade was a 10.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,712 shares of company stock valued at $20,567,008 over the last quarter. 1.01% of the stock is owned by corporate insiders.

Fortive Company 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.