Flossbach Von Storch AG Has $817.87 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Flossbach Von Storch AG grew its stake in Fortive Co. (NYSE:FTV) by 4.8% during the fourth quarter, Holdings Channel reports. The firm owned 11,107,878 shares of the technology company’s stock after purchasing an additional 512,414 shares during the period. Fortive makes up approximately 3.7% of Flossbach Von Storch AG’s portfolio, making the stock its 10th largest position. Flossbach Von Storch AG’s holdings in Fortive were worth $817,873,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FTV. OFI Invest Asset Management purchased a new position in shares of Fortive in the 3rd quarter worth about $25,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Fortive during the 2nd quarter worth approximately $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Fortive in the 3rd quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new position in Fortive in the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC bought a new position in Fortive during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares in the company, valued at approximately $5,336,849.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the sale, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by company insiders.

Fortive Price Performance

Shares of FTV stock traded down $0.84 during trading hours on Wednesday, hitting $80.20. 1,865,183 shares of the company’s stock were exchanged, compared to its average volume of 1,609,264. Fortive Co. has a 12-month low of $62.70 and a 12-month high of $87.10. The company has a market capitalization of $28.18 billion, a PE ratio of 32.87, a PEG ratio of 2.57 and a beta of 1.13. The business’s 50 day simple moving average is $84.52 and its 200-day simple moving average is $75.95. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35.

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

Fortive Announces Dividend

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

Analysts Set New Price Targets

FTV has been the subject of several recent research reports. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Truist Financial assumed coverage on shares of Fortive in a research report on Thursday, March 14th. They issued a “buy” rating and a $99.00 price target on the stock. Barclays raised their price target on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada increased their price objective on Fortive from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 1st. Finally, Citigroup lifted their target price on Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.