Mufg Securities Americas Inc. Takes Position in Fortive Co. (NYSE:FTV)

Mufg Securities Americas Inc. bought a new position in Fortive Co. (NYSE:FTV - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,122 shares of the technology company's stock, valued at approximately $384,000.

Several other institutional investors have also added to or reduced their stakes in FTV. Wedmont Private Capital boosted its holdings in shares of Fortive by 4.3% during the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock worth $252,000 after purchasing an additional 137 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in Fortive by 6.7% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,085 shares of the technology company's stock worth $231,000 after buying an additional 195 shares in the last quarter. RDA Financial Network raised its stake in Fortive by 5.9% in the fourth quarter. RDA Financial Network now owns 4,796 shares of the technology company's stock worth $360,000 after buying an additional 269 shares in the last quarter. CNB Bank raised its stake in Fortive by 8.8% in the fourth quarter. CNB Bank now owns 6,533 shares of the technology company's stock worth $490,000 after buying an additional 531 shares in the last quarter. Finally, Dakota Community Bank & Trust NA raised its stake in Fortive by 28.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company's stock worth $59,000 after buying an additional 175 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of research reports. Citigroup decreased their price target on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays decreased their price target on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. BNP Paribas downgraded shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price for the company. in a research note on Wednesday, April 9th. Truist Financial decreased their target price on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Fortive from $73.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Fortive has an average rating of "Moderate Buy" and an average price target of $81.92.

Insider Buying and Selling

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the sale, the chief accounting officer now directly owns 24,283 shares of the company's stock, valued at $1,941,425.85. This represents a 21.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. The trade was a 29.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 432,712 shares of company stock worth $33,237,008. Insiders own 1.01% of the company's stock.

Fortive Stock Performance

Shares of NYSE:FTV traded up $0.13 during midday trading on Thursday, reaching $70.23. 684,972 shares of the company's stock traded hands, compared to its average volume of 2,893,327. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. Fortive Co. has a one year low of $60.38 and a one year high of $83.32. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.68 and a beta of 1.10. The stock has a 50 day moving average of $69.67 and a 200 day moving average of $74.85.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. As a group, equities research analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 30th. Fortive's dividend payout ratio (DPR) is presently 14.04%.

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.