US Bancorp DE Has $17.24 Million Stake in Fortive Co. (NYSE:FTV)

US Bancorp DE trimmed its stake in shares of Fortive Co. (NYSE:FTV) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,875 shares of the technology company’s stock after selling 6,036 shares during the period. US Bancorp DE owned about 0.07% of Fortive worth $17,241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC increased its stake in Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after buying an additional 3,972,855 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after buying an additional 1,761,983 shares during the last quarter. Janus Henderson Group PLC increased its stake in Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after buying an additional 977,428 shares during the last quarter. Holocene Advisors LP increased its stake in Fortive by 1,014.1% in the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock valued at $72,984,000 after buying an additional 841,671 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Fortive by 59.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock valued at $107,271,000 after buying an additional 505,882 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

NYSE FTV opened at $79.00 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $26.88 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.68 and a beta of 1.15. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The firm has a 50-day moving average price of $78.79 and a two-hundred day moving average price of $76.65.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the prior year, the company posted $0.98 earnings per share. Analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is presently 13.56%.

Insider Activity

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the transaction, the chief accounting officer now directly owns 24,283 shares in the company, valued at $1,941,425.85. This represents a 21.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares of the company’s stock, valued at approximately $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,298 shares of company stock worth $16,740,998. 1.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FTV shares. Truist Financial lifted their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays lowered their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

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.