Kentucky Retirement Systems Has $1.81 Million Holdings in Fortive Co. (NYSE:FTV)

Kentucky Retirement Systems lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,075 shares of the technology company’s stock after selling 332 shares during the quarter. Kentucky Retirement Systems’ holdings in Fortive were worth $1,806,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Fortive during the 3rd quarter worth $25,000. Versant Capital Management Inc raised its stake in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 297 shares during the period. Crews Bank & Trust bought a new position in Fortive during the 4th quarter worth about $37,000. Albion Financial Group UT bought a new position in Fortive during the 4th quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in Fortive during the 3rd quarter worth about $57,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 2.2 %

Fortive stock opened at $80.03 on Friday. The stock has a 50-day simple moving average of $78.20 and a 200 day simple moving average of $76.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The stock has a market capitalization of $27.77 billion, a P/E ratio of 33.91, a PEG ratio of 2.68 and a beta of 1.15. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FTV shares. Truist Financial increased their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Wells Fargo & Company increased their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $87.64.

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.