Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its stake in Fortive Corporation (NYSE:FTV) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,761 shares of the technology company’s stock after selling 18,969 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Fortive Corporation were worth $11,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC bought a new stake in Fortive Corporation during the first quarter valued at $102,000. Jacobi Capital Management LLC increased its stake in Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after buying an additional 300 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.

Shares of Fortive Corporation (NYSE:FTV) opened at 65.53 on Friday. The firm has a market capitalization of $22.75 billion, a P/E ratio of 25.81 and a beta of 0.23. The firm has a 50-day moving average of $64.38 and a 200-day moving average of $61.16. Fortive Corporation has a one year low of $46.81 and a one year high of $67.48.

Fortive Corporation (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. On average, equities analysts predict that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. Fortive Corporation’s payout ratio is 11.02%.

COPYRIGHT VIOLATION WARNING: “Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Sells 18,969 Shares of Fortive Corporation (NYSE:FTV)” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.watchlistnews.com/mitsubishi-ufj-kokusai-asset-management-co-ltd-sells-18969-shares-of-fortive-corporation-nyseftv/1471545.html.

Several research firms recently weighed in on FTV. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Monday, July 24th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $61.82.

In related news, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total value of $725,413.02. Following the completion of the sale, the vice president now directly owns 5,020 shares in the company, valued at $312,796.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is owned by company insiders.

Fortive Corporation Company Profile

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corporation (NYSE:FTV).

Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

Receive News & Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.