Fortive Corporation $FTV Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB increased its holdings in shares of Fortive Corporation (NYSE:FTV) by 18.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,701,657 shares of the technology company’s stock after buying an additional 270,730 shares during the period. Nordea Investment Management AB’s holdings in Fortive were worth $87,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its stake in Fortive by 11.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock worth $790,000 after acquiring an additional 1,076 shares during the period. Drake & Associates LLC raised its stake in Fortive by 28.7% during the first quarter. Drake & Associates LLC now owns 22,298 shares of the technology company’s stock worth $1,632,000 after acquiring an additional 4,978 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Fortive by 13.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company’s stock worth $3,757,000 after acquiring an additional 5,963 shares during the period. Brookstone Capital Management acquired a new stake in Fortive during the first quarter worth about $3,542,000. Finally, Perpetual Ltd raised its stake in Fortive by 60.0% during the first quarter. Perpetual Ltd now owns 239,735 shares of the technology company’s stock worth $17,544,000 after acquiring an additional 89,891 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

NYSE FTV opened at $48.69 on Friday. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The firm has a market capitalization of $16.47 billion, a PE ratio of 21.93, a P/E/G ratio of 3.08 and a beta of 1.15. The company’s 50 day simple moving average is $48.47 and its 200 day simple moving average is $58.15.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The business had revenue of $1.07 billion for the quarter. As a group, equities research analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, September 12th. Fortive’s dividend payout ratio (DPR) is currently 10.81%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 1st. Melius lowered shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research note on Tuesday, July 22nd. Truist Financial restated a “hold” rating and issued a $55.00 price target (down previously from $60.00) on shares of Fortive in a research note on Thursday, July 31st. Raymond James Financial dropped their price target on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Finally, Mizuho dropped their price target on shares of Fortive from $65.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Fortive has a consensus rating of “Hold” and an average target price of $61.14.

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.