Mutual of America Capital Management LLC Sells 2,231 Shares of Fortive Co. (NYSE:FTV)

Mutual of America Capital Management LLC decreased its holdings in shares of Fortive Co. (NYSE:FTV) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,191 shares of the technology company’s stock after selling 2,231 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fortive were worth $3,475,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Fortive by 2.7% during the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after purchasing an additional 989,883 shares during the last quarter. BlackRock Inc. boosted its holdings in Fortive by 0.9% during the first quarter. BlackRock Inc. now owns 30,824,840 shares of the technology company’s stock worth $2,101,329,000 after purchasing an additional 282,248 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Fortive by 1.0% during the third quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock worth $1,415,902,000 after purchasing an additional 181,948 shares during the last quarter. Flossbach Von Storch AG boosted its holdings in Fortive by 0.4% during the third quarter. Flossbach Von Storch AG now owns 10,595,464 shares of the technology company’s stock worth $785,760,000 after purchasing an additional 47,149 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Fortive by 2.0% during the first quarter. Geode Capital Management LLC now owns 7,298,958 shares of the technology company’s stock worth $496,474,000 after purchasing an additional 142,527 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE FTV opened at $80.20 on Thursday. The firm has a 50-day moving average of $84.52 and a 200-day moving average of $75.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. The stock has a market cap of $28.18 billion, a PE ratio of 32.87, a P/E/G ratio of 2.57 and a beta of 1.13. Fortive Co. has a 52-week low of $62.70 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. Fortive’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. On average, sell-side analysts anticipate that Fortive Co. will post 3.78 EPS for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio is 13.11%.

Insider Buying and Selling

In related news, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on FTV shares. Barclays increased their target price on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Wells Fargo & Company increased their price target on shares of Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Truist Financial initiated coverage on shares of Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 price target for the company. Finally, Mizuho increased their price target on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.54.

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.