Meiji Yasuda Life Insurance Co Sells 6,930 Shares of Fortive Co. (NYSE:FTV)

Meiji Yasuda Life Insurance Co reduced its holdings in shares of Fortive Co. (NYSE:FTV) by 54.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,690 shares of the technology company’s stock after selling 6,930 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Fortive were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in shares of Fortive in the fourth quarter worth $283,000. Janney Montgomery Scott LLC grew its stake in Fortive by 9.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,060 shares of the technology company’s stock worth $1,109,000 after purchasing an additional 1,357 shares in the last quarter. Norges Bank bought a new stake in shares of Fortive in the fourth quarter valued at about $268,686,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in Fortive by 15.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,621 shares of the technology company’s stock worth $1,077,000 after buying an additional 1,909 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Fortive by 1.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 138,643 shares of the technology company’s stock worth $10,208,000 after purchasing an additional 2,026 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Activity at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays upped their target price on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Truist Financial reduced their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.23.

Fortive Price Performance

NYSE FTV opened at $75.71 on Thursday. The business’s fifty day moving average is $72.36 and its two-hundred day moving average is $76.28. The stock has a market capitalization of $26.65 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.11 and a beta of 1.11. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

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

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive’s dividend payout ratio is currently 12.65%.

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.