Fortive Co. (NYSE:FTV) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in Fortive Co. (NYSE:FTV) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,691 shares of the technology company’s stock after selling 12,000 shares during the period. New York State Common Retirement Fund’s holdings in Fortive were worth $16,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schubert & Co purchased a new stake in Fortive in the fourth quarter valued at $1,362,000. CIBC Asset Management Inc lifted its holdings in shares of Fortive by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 53,551 shares of the technology company’s stock valued at $4,016,000 after buying an additional 2,433 shares during the period. JFS Wealth Advisors LLC boosted its stake in shares of Fortive by 4,321.7% in the fourth quarter. JFS Wealth Advisors LLC now owns 6,323 shares of the technology company’s stock worth $474,000 after buying an additional 6,180 shares during the last quarter. Manchester Capital Management LLC grew its holdings in Fortive by 13.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock worth $105,000 after acquiring an additional 165 shares during the period. Finally, Bull Street Advisors LLC raised its position in Fortive by 3.5% during the fourth quarter. Bull Street Advisors LLC now owns 18,562 shares of the technology company’s stock valued at $1,392,000 after acquiring an additional 620 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

FTV has been the topic of several recent research reports. Barclays lowered their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. UBS Group assumed coverage on shares of Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.64.

Fortive Trading Down 2.2 %

FTV stock opened at $80.03 on Monday. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The business’s 50-day moving average is $78.20 and its 200 day moving average is $76.20. 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 stock has a market cap of $27.77 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the firm earned $0.98 EPS. On average, sell-side analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is 13.56%.

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.