Resona Asset Management Co. Ltd. Grows Stock Position in Fortive Corporation $FTV

Resona Asset Management Co. Ltd. raised its position in Fortive Corporation (NYSE:FTV) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,330 shares of the technology company’s stock after buying an additional 5,252 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Fortive were worth $6,424,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Accent Capital Management LLC purchased a new stake in Fortive in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. boosted its position in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after purchasing an additional 357 shares during the period. Capital Analysts LLC increased its stake in shares of Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after purchasing an additional 152 shares in the last quarter. Banque Transatlantique SA increased its stake in shares of Fortive by 92.8% in the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after purchasing an additional 270 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Fortive by 459.7% in the first quarter. Larson Financial Group LLC now owns 806 shares of the technology company’s stock valued at $59,000 after purchasing an additional 662 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, SVP Stacey A. Walker sold 2,192 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.92% of the stock is currently owned by corporate insiders.

Fortive Trading Up 0.3%

Shares of FTV stock opened at $51.22 on Monday. The company has a market capitalization of $16.27 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 3.09 and a beta of 1.16. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The business’s fifty day moving average is $49.06 and its 200 day moving average is $56.44. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70.

Fortive (NYSE:FTV) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The business had revenue of $1.07 billion for the quarter. On average, equities research analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s payout ratio is presently 13.71%.

Analysts Set New Price Targets

Several research firms recently commented on FTV. Barclays raised their price objective on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Weiss Ratings downgraded Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Citigroup raised their price target on Fortive from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Melius lowered Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Tuesday, July 22nd. Finally, Melius Research raised Fortive to a “hold” rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Fortive presently has an average rating of “Hold” and an average price target of $59.29.

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.