Czech National Bank Has $5.64 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Czech National Bank lifted its holdings in Fortive Co. (NYSE:FTV) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,186 shares of the technology company’s stock after purchasing an additional 3,818 shares during the period. Czech National Bank’s holdings in Fortive were worth $5,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its position in shares of Fortive by 10.1% in the second quarter. Envestnet Asset Management Inc. now owns 897,881 shares of the technology company’s stock valued at $66,533,000 after purchasing an additional 82,231 shares during the period. Dimensional Fund Advisors LP grew its stake in Fortive by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after buying an additional 205,893 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Fortive by 275.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 10,072 shares of the technology company’s stock worth $746,000 after acquiring an additional 7,391 shares during the period. Argent Trust Co raised its holdings in Fortive by 2.3% in 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 during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in Fortive by 16.0% during the 2nd 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. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on FTV shares. Barclays decreased their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price objective on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 7th. Argus reaffirmed a “hold” rating on shares of Fortive in a research report on Monday, November 18th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Truist Financial boosted their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $86.45.

Insiders Place Their Bets

In related news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Stock Performance

Shares of NYSE:FTV opened at $78.01 on Thursday. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company’s 50 day moving average price is $76.44 and its two-hundred day moving average price is $74.71. The firm has a market cap of $27.07 billion, a PE ratio of 31.08, a PEG ratio of 2.11 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

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

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive’s dividend payout ratio is presently 12.75%.

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.