Principal Financial Group Inc. Sells 13,782 Shares of Fortive Corp (FTV)
Principal Financial Group Inc. lowered its stake in shares of Fortive Corp (NYSE:FTV) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 496,884 shares of the technology company’s stock after selling 13,782 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Fortive worth $38,516,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Banco de Sabadell S.A bought a new stake in Fortive during the fourth quarter worth $2,093,000. BancorpSouth Bank bought a new stake in Fortive during the fourth quarter worth $211,000. Macquarie Group Ltd. grew its holdings in Fortive by 15.7% during the fourth quarter. Macquarie Group Ltd. now owns 107,100 shares of the technology company’s stock worth $8,013,000 after buying an additional 14,504 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Fortive by 3.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,958,371 shares of the technology company’s stock worth $214,038,000 after buying an additional 94,283 shares in the last quarter. Finally, Bain Capital Public Equity Management LLC bought a new stake in Fortive during the fourth quarter worth $29,910,000. Institutional investors and hedge funds own 79.60% of the company’s stock.
Shares of Fortive opened at $78.09 on Thursday, Marketbeat.com reports. The firm has a market capitalization of $27.32 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.52. The company has a quick ratio of 1.69, a current ratio of 2.11 and a debt-to-equity ratio of 0.97. Fortive Corp has a 1 year low of $62.05 and a 1 year high of $80.31.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, May 25th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, May 24th. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. Fortive’s payout ratio is 9.69%.
A number of research analysts have issued reports on FTV shares. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a research note on Monday. ValuEngine downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Tuesday. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research note on Friday, March 9th. Finally, Barclays started coverage on Fortive in a research note on Thursday, February 15th. They issued an “overweight” rating and a $86.00 price objective for the company. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $80.89.
In other news, VP Emily A. Weaver sold 18,354 shares of the stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $73.80, for a total transaction of $1,354,525.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James A. Lico sold 75,000 shares of the stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $71.93, for a total value of $5,394,750.00. Following the transaction, the insider now owns 307,442 shares of the company’s stock, valued at approximately $22,114,303.06. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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