Ossiam Sells 1,867 Shares of Fortive Co. (NYSE:FTV)

Ossiam trimmed its stake in shares of Fortive Co. (NYSE:FTV) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,618 shares of the technology company’s stock after selling 1,867 shares during the quarter. Ossiam’s holdings in Fortive were worth $1,471,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FTV. First Hawaiian Bank increased its position in shares of Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after buying an additional 10,125 shares during the period. Principal Financial Group Inc. grew its stake in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after acquiring an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fortive by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after purchasing an additional 7,829 shares during the period. Nordea Investment Management AB raised its position in shares of Fortive by 23.9% in the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after buying an additional 303,788 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in Fortive during the fourth quarter valued at $358,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 0.7 %

NYSE:FTV opened at $65.44 on Monday. The firm has a market capitalization of $22.27 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.68 and a beta of 1.12. Fortive Co. has a 52 week low of $60.39 and a 52 week high of $83.32. 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 fifty day moving average of $73.76 and a 200 day moving average of $75.84.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.98 earnings per share. On average, research analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be given a $0.08 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. Fortive’s dividend payout ratio is currently 13.56%.

Insider Activity

In related news, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares in the company, valued at $3,795,793.32. The trade was a 10.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,385 shares of company stock valued at $19,508,529. Company insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays dropped their target price on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. BNP Paribas cut Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price objective for the company. in a report on Wednesday, April 9th. Wells Fargo & Company raised their price objective on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Citigroup cut their target price on Fortive from $84.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $81.92.

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.