Meiji Yasuda Life Insurance Co Sells 6,930 Shares of Fortive Co. (NYSE:FTV)

Meiji Yasuda Life Insurance Co decreased its stake in Fortive Co. (NYSE:FTV) by 54.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,690 shares of the technology company’s stock after selling 6,930 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Fortive were worth $422,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FTV. Norges Bank bought a new position in shares of Fortive during the fourth quarter valued at $268,686,000. Janus Henderson Group PLC increased its position 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 valued at $537,119,000 after buying an additional 1,999,792 shares in the last quarter. Boston Partners increased its holdings in shares of Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares in the last quarter. Kodai Capital Management LP acquired a new position in Fortive during the fourth quarter worth $45,557,000. Finally, Nordea Investment Management AB raised its holdings in shares of Fortive by 70.1% in the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after acquiring an additional 369,351 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FTV has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price target on shares of Fortive in a report on Friday, September 6th. Finally, Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $86.23.

Insiders Place Their Bets

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The stock was 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 in the company, valued at approximately $5,030,281.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive 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 directly owns 68,161 shares in the company, valued at $5,030,281.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Fortive Stock Up 1.3 %

Shares of NYSE FTV opened at $75.71 on Thursday. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 2.11 and a beta of 1.11. The firm’s 50-day moving average price is $72.36 and its 200-day moving average price is $76.28. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s payout ratio is 12.65%.

Fortive Company 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.