Fortive Co. (NYSE:FTV) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in shares of Fortive Co. (NYSE:FTV) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,633 shares of the technology company’s stock after selling 1,485 shares during the period. Kentucky Retirement Systems’ holdings in Fortive were worth $2,291,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in Fortive by 70.1% during the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after purchasing an additional 369,351 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Fortive by 104.3% in the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after acquiring an additional 188,415 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Fortive by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock valued at $42,496,000 after acquiring an additional 13,251 shares in the last quarter. Capital World Investors increased its holdings in Fortive by 0.6% in the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after buying an additional 33,990 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Fortive by 6.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after buying an additional 17,225 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

NYSE:FTV traded up $1.06 during mid-day trading on Monday, reaching $72.05. The stock had a trading volume of 698,802 shares, compared to its average volume of 1,677,022. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 2.07 and a beta of 1.12. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The business has a 50 day simple moving average of $74.03 and a 200 day simple moving average of $78.44.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, analysts expect that Fortive Co. will post 3.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Barclays lowered their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank of Canada lowered their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, TD Cowen raised Fortive from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.91.

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.