American International Group Inc. Buys 3,214 Shares of Fortive Co. (NYSE:FTV)

American International Group Inc. boosted its stake in Fortive Co. (NYSE:FTVFree Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,377 shares of the technology company’s stock after purchasing an additional 3,214 shares during the period. American International Group Inc.’s holdings in Fortive were worth $7,096,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTV. Cetera Trust Company N.A acquired a new position in Fortive in the 4th quarter valued at approximately $28,000. Spire Wealth Management increased its position in Fortive by 69.3% in the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after acquiring an additional 208 shares during the period. Fortitude Family Office LLC acquired a new position in Fortive in the 4th quarter valued at approximately $38,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Fortive by 1,162.8% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock valued at $40,000 after acquiring an additional 500 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Fortive in the 4th quarter valued at approximately $51,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FTV shares. Wells Fargo & Company decreased their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Barclays increased their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Truist Financial started coverage on shares of Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Finally, Citigroup decreased their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average target price of $86.46.

Get Our Latest Report on Fortive

Fortive Stock Up 0.5 %

Shares of NYSE FTV opened at $73.15 on Tuesday. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The firm has a market cap of $25.75 billion, a PE ratio of 28.91, a P/E/G ratio of 2.13 and a beta of 1.13. The company’s fifty day simple moving average is $77.82 and its 200 day simple moving average is $77.78. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTVGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. As a group, sell-side analysts forecast that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is 12.65%.

About Fortive

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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