Fortive Co. (NYSE:FTV) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 655,605 shares of the technology company’s stock after selling 47,187 shares during the quarter. California Public Employees Retirement System’s holdings in Fortive were worth $48,272,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FTV. OFI Invest Asset Management acquired a new position in Fortive during the 3rd quarter worth $25,000. Cornerstone Planning Group LLC acquired a new position in shares of Fortive during the third quarter worth about $28,000. Cetera Trust Company N.A acquired a new stake in Fortive in the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in Fortive in the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC purchased a new position in Fortive in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FTV. Mizuho lifted their price objective on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Barclays increased their price objective on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Vertical Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Truist Financial began coverage on shares of Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price on the stock. Finally, Citigroup reduced their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $86.46.

Insider Activity

In other news, CEO Tamara S. Newcombe sold 5,000 shares of Fortive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the transaction, the chief executive officer now owns 55,017 shares of the company’s stock, valued at $4,676,445. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the transaction, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tamara S. Newcombe sold 5,000 shares of Fortive stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 55,017 shares of the company’s stock, valued at $4,676,445. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,937 shares of company stock valued at $5,475,122. Insiders own 0.95% of the company’s stock.

Fortive Stock Performance

Shares of FTV opened at $75.97 on Friday. Fortive Co. has a 12-month low of $62.77 and a 12-month high of $87.10. The stock has a market cap of $26.74 billion, a P/E ratio of 30.03, a PEG ratio of 2.31 and a beta of 1.13. The company has a current ratio of 1.50, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $83.83 and a two-hundred day moving average of $76.13.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. As a group, research analysts predict that Fortive Co. will post 3.8 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s payout ratio is currently 12.65%.

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.