Barrow Hanley Mewhinney & Strauss LLC Takes Position in Fortive Co. (NYSE:FTV)

Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Fortive Co. (NYSE:FTV) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,823,920 shares of the technology company’s stock, valued at approximately $136,794,000.

Other large investors have also recently bought and sold shares of the company. First Hawaiian Bank increased its position in shares of Fortive by 197.0% in the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after buying an additional 10,125 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after acquiring an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after purchasing an additional 7,829 shares during the period. XTX Topco Ltd bought a new position in shares of Fortive during the 3rd quarter valued at about $1,346,000. Finally, Nordea Investment Management AB grew its position in shares of Fortive by 23.9% in the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock valued at $118,292,000 after purchasing an additional 303,788 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the topic of several research analyst reports. Barclays dropped their target price on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Truist Financial lifted their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $87.18.

Fortive Stock Performance

NYSE FTV opened at $72.57 on Friday. The firm has a market capitalization of $24.69 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm’s fifty day moving average price is $78.35 and its two-hundred day moving average price is $76.97. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $85.93.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted $0.98 EPS. As a group, research analysts anticipate that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, February 28th. Fortive’s payout ratio is presently 13.56%.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now directly owns 47,141 shares in the company, valued at $3,795,793.32. The trade was a 10.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares of the company’s stock, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,385 shares of company stock worth $19,508,529. Company insiders own 1.01% of the company’s stock.

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.