Resona Asset Management Co. Ltd. Purchases 5,252 Shares of Fortive Corporation $FTV

Resona Asset Management Co. Ltd. increased its position in Fortive Corporation (NYSE:FTV) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,330 shares of the technology company’s stock after buying an additional 5,252 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Fortive were worth $6,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of FTV. Accent Capital Management LLC bought a new position in Fortive during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its stake in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares in the last quarter. Capital Analysts LLC grew its holdings in shares of Fortive by 41.0% during the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after purchasing an additional 152 shares during the last quarter. Banque Transatlantique SA grew its holdings in shares of Fortive by 92.8% during the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after purchasing an additional 270 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in Fortive by 459.7% in the 1st quarter. Larson Financial Group LLC now owns 806 shares of the technology company’s stock worth $59,000 after purchasing an additional 662 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of FTV stock opened at $51.22 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm has a market cap of $16.27 billion, a P/E ratio of 29.27, a P/E/G ratio of 3.09 and a beta of 1.16. The business’s 50 day moving average price is $49.06 and its 200-day moving average price is $56.44.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. The company had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. On average, equities research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s payout ratio is presently 13.71%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FTV. JPMorgan Chase & Co. upped their price target on shares of Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Cowen lowered Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, July 15th. Weiss Ratings lowered Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Truist Financial reaffirmed a “hold” rating and issued a $58.00 price target (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Finally, Morgan Stanley increased their price objective on Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.29.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares in the company, valued at $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.92% of the company’s stock.

Fortive 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.