Swiss National Bank Has $81.11 Million Stake in Fortive Co. (NYSE:FTV)

Swiss National Bank reduced its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,101,600 shares of the technology company's stock after selling 35,700 shares during the quarter. Swiss National Bank owned approximately 0.31% of Fortive worth $81,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Jennison Associates LLC grew its position in Fortive by 111.7% in the 4th quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company's stock worth $86,637,000 after purchasing an additional 620,866 shares during the period. Flossbach Von Storch AG lifted its holdings in Fortive by 4.8% during the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company's stock worth $817,873,000 after buying an additional 512,414 shares during the period. Ceredex Value Advisors LLC grew its position in shares of Fortive by 47.4% in the 4th quarter. Ceredex Value Advisors LLC now owns 1,410,427 shares of the technology company's stock worth $103,850,000 after buying an additional 453,817 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Fortive by 8.6% in the third quarter. Artisan Partners Limited Partnership now owns 3,294,446 shares of the technology company's stock valued at $244,316,000 after buying an additional 260,404 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its stake in shares of Fortive by 96.9% during the third quarter. Quintet Private Bank Europe S.A. now owns 372,472 shares of the technology company's stock worth $27,622,000 after buying an additional 183,335 shares during the period. Institutional investors own 94.94% of the company's stock.

Insider Activity

In related news, CAO Christopher M. Mulhall sold 8,994 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $82.17, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 55,017 shares in the company, valued at approximately $4,676,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher M. Mulhall sold 8,994 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was 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 in the company, valued at approximately $1,689,743.88. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock worth $5,475,122 over the last quarter. Insiders own 0.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FTV. Mizuho boosted their price objective on Fortive from $70.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, February 1st. Truist Financial initiated coverage on Fortive in a research report on Thursday, March 14th. They set a "buy" rating and a $99.00 price objective on the stock. Barclays raised their target price on Fortive from $89.00 to $97.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded Fortive from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company dropped their target price on shares of Fortive from $92.00 to $84.00 and set an "equal weight" rating for the company in a report on Thursday, April 25th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Fortive presently has an average rating of "Hold" and an average target price of $86.46.

Fortive Stock Performance

Shares of FTV traded down $0.02 during trading hours on Friday, hitting $76.08. The company had a trading volume of 2,306,506 shares, compared to its average volume of 1,905,884. The business has a fifty day moving average of $82.94 and a 200-day moving average of $76.18. The firm has a market cap of $26.78 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.22 and a beta of 1.15. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Equities analysts anticipate that Fortive Co. will post 3.81 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive's dividend payout ratio (DPR) is currently 12.65%.

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.