Tokio Marine Asset Management Co. Ltd. Increases Stock Holdings in Fortive Co. (NYSE:FTV)

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Fortive Co. (NYSE:FTV) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,638 shares of the technology company’s stock after buying an additional 402 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Fortive were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Fortive in the third quarter valued at approximately $25,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive during the 2nd quarter worth $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive in the 2nd quarter worth $30,000. Goodman Advisory Group LLC acquired a new position in Fortive in the second quarter valued at $31,000. Finally, Advisors Asset Management Inc. purchased a new stake in Fortive during the first quarter valued at about $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FTV. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Thursday, September 5th. Royal Bank of Canada dropped their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Truist Financial lowered their price target on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.82.

Fortive Stock Performance

Shares of FTV opened at $74.82 on Friday. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.09 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $75.45 and its two-hundred day moving average is $74.19. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Analysts forecast that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is presently 12.75%.

Insider Transactions at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is currently owned by corporate insiders.

Fortive 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.