Fortive Co. (NYSE:FTV) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its stake in shares of Fortive Co. (NYSE:FTV) by 6.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 30,007 shares of the technology company’s stock after selling 2,051 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Fortive were worth $2,224,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. O Brien Greene & Co. Inc increased its holdings in Fortive by 5.6% during the 2nd quarter. O Brien Greene & Co. Inc now owns 80,430 shares of the technology company’s stock worth $5,960,000 after purchasing an additional 4,236 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Fortive by 5.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 28,400 shares of the technology company’s stock worth $2,062,000 after buying an additional 1,349 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Fortive by 60.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 30,574 shares of the technology company’s stock valued at $2,266,000 after acquiring an additional 11,526 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Fortive by 16.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 14,487 shares of the technology company’s stock worth $1,074,000 after acquiring an additional 2,001 shares during the last quarter. Finally, Argent Trust Co grew its holdings in Fortive by 2.3% during the 2nd quarter. Argent Trust Co now owns 15,811 shares of the technology company’s stock worth $1,172,000 after acquiring an additional 348 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FTV. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Barclays raised their target price on Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Wells Fargo & Company lowered their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.23.

Fortive Stock Performance

Shares of FTV stock opened at $77.29 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a market cap of $27.21 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The stock has a 50 day simple moving average of $72.41 and a 200-day simple moving average of $76.29.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the company earned $0.85 earnings per share. Fortive’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that Fortive Co. will post 3.82 EPS for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive’s payout ratio is currently 12.65%.

Insider Buying and Selling at Fortive

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

About Fortive

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.