Robeco Institutional Asset Management B.V. Buys 452,845 Shares of Fortive Corporation $FTV

Robeco Institutional Asset Management B.V. raised its stake in Fortive Corporation (NYSE:FTV) by 152.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 750,020 shares of the technology company’s stock after buying an additional 452,845 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.22% of Fortive worth $36,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FTV. Brighton Jones LLC boosted its holdings in Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after acquiring an additional 2,811 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Fortive by 12.4% in the 1st quarter. AQR Capital Management LLC now owns 98,987 shares of the technology company’s stock worth $7,130,000 after purchasing an additional 10,934 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of Fortive by 3.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 37,709 shares of the technology company’s stock valued at $2,760,000 after purchasing an additional 1,300 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Fortive during the first quarter worth $365,000. Finally, Goldman Sachs Group Inc. raised its stake in Fortive by 7.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,912,801 shares of the technology company’s stock worth $213,159,000 after buying an additional 207,031 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $50.35, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on FTV. Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Wells Fargo & Company increased their price target on Fortive from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. Robert W. Baird boosted their target price on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortive in a research note on Monday, December 29th. Finally, Morgan Stanley lifted their price target on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.62.

Fortive Stock Down 2.4%

Shares of NYSE:FTV opened at $54.13 on Thursday. The business’s 50 day moving average is $53.33 and its 200 day moving average is $51.49. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The stock has a market cap of $17.19 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.12 and a beta of 1.13. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. The business 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, sell-side analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were paid a $0.06 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is 13.71%.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.