Assenagon Asset Management S.A. Sells 439 Shares of Fortive Co. (NYSE:FTV)

Assenagon Asset Management S.A. decreased its holdings in Fortive Co. (NYSE:FTV) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,245 shares of the technology company’s stock after selling 439 shares during the period. Assenagon Asset Management S.A.’s holdings in Fortive were worth $3,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James & Associates boosted its position in Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after buying an additional 51,690 shares during the period. Atomi Financial Group Inc. boosted its holdings in Fortive by 4.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after acquiring an additional 226 shares during the period. First Hawaiian Bank grew its position in Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 10,125 shares during the last quarter. Principal Financial Group Inc. increased its stake in Fortive by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after purchasing an additional 10,795 shares during the period. Finally, XTX Topco Ltd bought a new stake in Fortive in the third quarter valued at approximately $1,346,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 2.4 %

Shares of Fortive stock opened at $80.79 on Wednesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market cap of $28.03 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.12 and a beta of 1.14. The company has a 50-day moving average of $76.74 and a 200 day moving average of $74.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were paid a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio is currently 12.75%.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $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. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Truist Financial boosted their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $86.00 in a report on Monday, December 9th. Finally, UBS Group began coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.45.

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.