Nomura Asset Management Co. Ltd. Sells 36,490 Shares of Fortive Corporation $FTV

Nomura Asset Management Co. Ltd. lessened its holdings in shares of Fortive Corporation (NYSE:FTV) by 24.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 113,392 shares of the technology company’s stock after selling 36,490 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Fortive were worth $5,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTV. Dodge & Cox raised its position in shares of Fortive by 181.5% during the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after purchasing an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Fortive by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after buying an additional 4,382,242 shares during the period. Flossbach Von Storch SE lifted its stake in Fortive by 1.6% in the second quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after buying an additional 189,027 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fortive by 2.5% in the second quarter. Geode Capital Management LLC now owns 8,689,681 shares of the technology company’s stock valued at $451,093,000 after buying an additional 211,694 shares during the period. Finally, Invesco Ltd. increased its position in shares of Fortive by 96.6% during the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after acquiring an additional 2,764,432 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Up 3.9%

NYSE FTV opened at $52.84 on Friday. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $49.74 and a 200-day moving average of $55.42. The company has a market cap of $16.78 billion, a PE ratio of 30.19, a PEG ratio of 3.06 and a beta of 1.16.

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

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. Fortive’s dividend payout ratio is presently 13.71%.

Analysts Set New Price Targets

Several research firms recently commented on FTV. Morgan Stanley boosted their price objective on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Barclays boosted their price target on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Mizuho decreased their price objective on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Royal Bank Of Canada cut their target price on Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 31st. Finally, Truist Financial reaffirmed a “hold” rating and set a $58.00 price target (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $57.38.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares in the company, valued at approximately $2,995,220.80. This trade represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.

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.