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

New York State Common Retirement Fund decreased its position in shares of Fortive Co. (NYSE:FTV) by 16.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,691 shares of the technology company’s stock after selling 43,400 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Fortive worth $17,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Boston Partners lifted its position in shares of Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after buying an additional 1,045,245 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after buying an additional 1,999,792 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after buying an additional 205,893 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of Fortive by 6.8% during the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock valued at $195,721,000 after buying an additional 168,368 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Fortive by 3.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock valued at $190,099,000 after buying an additional 94,170 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.3 %

Shares of NYSE:FTV opened at $71.39 on Wednesday. The business has a 50-day moving average price of $75.17 and a 200 day moving average price of $74.27. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.96 and a beta of 1.13. Fortive Co. has a 12-month low of $64.69 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. Sell-side analysts expect that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio is currently 12.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FTV shares. Royal Bank of Canada decreased their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $88.20.

Insider Buying and Selling at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,895 shares of company stock valued at $13,878,151 in the last three months. 1.01% of the stock is owned by corporate insiders.

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.