State Board of Administration of Florida Retirement System Sells 23,690 Shares of Fortive Corporation $FTV

State Board of Administration of Florida Retirement System decreased its position in Fortive Corporation (NYSE:FTV) by 6.6% during the 2nd quarter, Holdings Channel reports. The firm owned 335,818 shares of the technology company’s stock after selling 23,690 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Fortive were worth $17,506,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in Fortive by 18.9% in the second quarter. Quadrant Capital Group LLC now owns 6,615 shares of the technology company’s stock valued at $345,000 after buying an additional 1,053 shares in the last quarter. Vinva Investment Management Ltd raised its stake in shares of Fortive by 259.7% in the second quarter. Vinva Investment Management Ltd now owns 38,739 shares of the technology company’s stock valued at $2,019,000 after acquiring an additional 27,968 shares during the last quarter. Choreo LLC raised its stake in shares of Fortive by 29.9% in the second quarter. Choreo LLC now owns 16,728 shares of the technology company’s stock valued at $872,000 after acquiring an additional 3,850 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Fortive by 17.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 445,950 shares of the technology company’s stock worth $23,247,000 after acquiring an additional 67,819 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in Fortive by 5,113.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,109 shares of the technology company’s stock worth $840,000 after acquiring an additional 15,800 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Stock Up 0.5%

Shares of NYSE FTV opened at $53.48 on Monday. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The stock has a market cap of $16.99 billion, a P/E ratio of 30.56, a P/E/G ratio of 3.22 and a beta of 1.13. The firm has a 50 day moving average price of $50.20 and a 200 day moving average price of $54.58.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The company had revenue of $1.07 billion during the quarter. Analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, November 28th. Fortive’s payout ratio is 13.71%.

Insider Activity

In related news, SVP Stacey A. Walker sold 2,192 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FTV shares. Wall Street Zen upgraded Fortive to a “hold” rating in a research report on Friday, September 5th. Citigroup upped their price target on shares of Fortive from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Fortive in a research report on Tuesday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley increased their price target on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $57.38.

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.