Mitsubishi UFJ Trust & Banking Corp Has $12.64 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Fortive Co. (NYSE:FTV) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 168,476 shares of the technology company’s stock after selling 6,499 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fortive were worth $12,636,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in Fortive in the 4th quarter valued at $31,000. Versant Capital Management Inc boosted its stake in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Fortive in the 4th quarter worth about $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive during the 4th quarter worth about $38,000. Finally, Dakota Community Bank & Trust NA lifted its holdings in Fortive by 28.6% during the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after purchasing an additional 175 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

Shares of FTV stock opened at $72.57 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $85.93. The firm has a market cap of $24.69 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 2.68 and a beta of 1.16. The stock has a 50-day moving average price of $78.35 and a 200 day moving average price of $76.93.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the prior year, the business earned $0.98 earnings per share. Research analysts expect that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were given a $0.08 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. Fortive’s dividend payout ratio is currently 13.56%.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the transaction, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now owns 42,373 shares in the company, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock valued at $19,508,529 over the last three months. Company insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FTV shares. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Wells Fargo & Company raised their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Barclays reduced their price objective on Fortive from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Royal Bank of Canada raised their target price on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $87.18.

Fortive 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.