New York State Teachers Retirement System Has $24.15 Million Stake in Fortive Co. (NYSE:FTV)

New York State Teachers Retirement System decreased its holdings in Fortive Co. (NYSE:FTV) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 305,927 shares of the technology company’s stock after selling 15,259 shares during the period. New York State Teachers Retirement System’s holdings in Fortive were worth $24,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Partners increased its holdings in Fortive by 19.3% in 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 during the period. Janus Henderson Group PLC increased its holdings in Fortive by 47.1% in 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 during the period. Dimensional Fund Advisors LP increased its holdings in Fortive by 8.4% in 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 during the period. Select Equity Group L.P. increased its holdings in Fortive by 6.8% in 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 during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Fortive by 3.8% in 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 during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 0.9 %

FTV opened at $71.44 on Friday. Fortive Co. has a fifty-two week low of $64.44 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The firm has a market capitalization of $25.15 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 2.21 and a beta of 1.12. The company’s 50 day moving average price is $75.31 and its two-hundred day moving average price is $74.55.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

Insider Transactions at Fortive

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Analyst Ratings Changes

FTV has been the topic of several recent analyst reports. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Truist Financial lifted their price target on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada decreased their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.30.

Fortive 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.