abrdn plc Has $17.23 Million Stock Holdings in Fortive Co. (NYSE:FTV)

abrdn plc boosted its stake in Fortive Co. (NYSE:FTV - Free Report) by 41.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,027 shares of the technology company's stock after buying an additional 68,258 shares during the period. abrdn plc owned 0.07% of Fortive worth $17,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB raised its holdings in Fortive by 34.2% in the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company's stock worth $38,828,000 after acquiring an additional 134,259 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its position in Fortive by 4.5% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company's stock worth $61,326,000 after purchasing an additional 35,688 shares during the period. NewEdge Wealth LLC grew its position in Fortive by 12.4% in the 4th quarter. NewEdge Wealth LLC now owns 4,816 shares of the technology company's stock worth $355,000 after purchasing an additional 531 shares during the period. DekaBank Deutsche Girozentrale grew its position in Fortive by 21.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 302,334 shares of the technology company's stock worth $22,096,000 after purchasing an additional 53,598 shares during the period. Finally, Drake & Associates LLC bought a new stake in Fortive in the 4th quarter worth approximately $441,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Price Performance

Fortive stock traded up $0.16 during mid-day trading on Thursday, hitting $76.21. The stock had a trading volume of 2,336,668 shares, compared to its average volume of 1,687,384. The firm has a market capitalization of $26.83 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.47 and a beta of 1.13. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average is $84.16 and its 200 day moving average is $76.13. Fortive Co. has a one year low of $62.70 and a one year high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. On average, sell-side analysts forecast that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive's dividend payout ratio (DPR) is presently 13.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Fortive from $92.00 to $84.00 and set an "equal weight" rating for the company in a research report on Thursday. Vertical Research downgraded shares of Fortive from a "buy" rating to a "hold" rating in a research report on Tuesday, January 2nd. StockNews.com raised shares of Fortive from a "hold" rating to a "buy" rating in a research report on Friday, January 26th. Citigroup cut their price objective on shares of Fortive from $101.00 to $98.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Barclays boosted their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $86.46.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares of the company's stock, valued at approximately $3,162,267. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares of the company's stock, valued at approximately $3,162,267. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares of the company's stock, valued at approximately $1,689,743.88. The disclosure for this sale can be found here. Insiders sold 63,937 shares of company stock valued at $5,475,122 in the last 90 days. Insiders own 0.95% of the company's stock.

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.