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

Assenagon Asset Management S.A. lessened its stake in Fortive Co. (NYSE:FTV) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of Fortive by 15.0% in the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after buying an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. grew its stake in shares of 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 purchasing an additional 226 shares during the period. First Hawaiian Bank increased its position in shares of Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 10,125 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of 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 purchased a new position in shares of Fortive in the third quarter worth approximately $1,346,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on FTV shares. UBS Group began coverage on shares of Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Truist Financial raised their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays decreased their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average price target of $86.45.

Fortive Stock Up 2.4 %

NYSE FTV opened at $80.79 on Wednesday. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $28.03 billion, a PE ratio of 32.19, a P/E/G ratio of 2.12 and a beta of 1.14. The stock’s 50 day moving average is $76.74 and its 200 day moving average is $74.89.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $0.85 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts predict that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s payout ratio is 12.75%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,702,336.68. This trade represents 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.

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.