Elo Mutual Pension Insurance Co Has $2.49 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Elo Mutual Pension Insurance Co increased its stake in Fortive Co. (NYSE:FTV) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,161 shares of the technology company’s stock after purchasing an additional 1,891 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Fortive were worth $2,487,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Whipplewood Advisors LLC bought a new stake in shares of Fortive during the 4th quarter valued at $31,000. Versant Capital Management Inc lifted its stake in Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after buying an additional 297 shares in the last quarter. Crews Bank & Trust bought a new stake in Fortive in the 4th quarter valued at $37,000. Albion Financial Group UT acquired a new position in shares of Fortive during the fourth quarter worth about $38,000. Finally, Dakota Community Bank & Trust NA raised its position in Fortive by 28.6% in the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the sale, the chief financial officer now directly owns 76,126 shares in the company, valued at $6,003,296.36. This represents a 29.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction of $457,997.76. Following the completion of the transaction, the senior vice president now owns 47,141 shares in the company, valued at $3,795,793.32. This represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FTV. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Truist Financial increased their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada boosted their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.18.

Fortive Price Performance

Shares of NYSE:FTV opened at $72.57 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The stock has a market cap of $24.69 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $85.93. The stock’s fifty day simple moving average is $78.35 and its two-hundred day simple moving average is $76.93.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the firm earned $0.98 EPS. As a group, analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, February 28th. Fortive’s dividend payout ratio is 13.56%.

About Fortive

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.