Assenagon Asset Management S.A. Raises Stake in Fortive Co. (NYSE:FTV)

Assenagon Asset Management S.A. boosted its stake in Fortive Co. (NYSE:FTV) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,684 shares of the technology company’s stock after purchasing an additional 4,840 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fortive were worth $3,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Boston Partners raised its position in shares of Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after buying an additional 1,045,245 shares in the last quarter. Janus Henderson Group PLC grew its stake in Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after buying an additional 1,999,792 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fortive by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after buying an additional 205,893 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Fortive by 6.8% during the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock valued at $195,721,000 after buying an additional 168,368 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Fortive by 3.8% during the second quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock valued at $190,099,000 after purchasing an additional 94,170 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTV. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $92.00 in a research note on Thursday, October 10th. Barclays raised their price objective on Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Finally, Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Fortive currently has an average rating of “Moderate Buy” and an average price target of $89.10.

Fortive Stock Performance

Shares of FTV stock opened at $72.08 on Thursday. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.21 and a beta of 1.12. The stock has a fifty day moving average of $75.33 and a 200 day moving average of $74.57. Fortive Co. has a 52 week low of $64.44 and a 52 week high of $87.10. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive’s dividend payout ratio is 12.65%.

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

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.