Public Employees Retirement System of Ohio Has $11.80 Million Stake in Fortive Co. (NYSE:FTV)

Public Employees Retirement System of Ohio reduced its position in shares of Fortive Co. (NYSE:FTV) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,225 shares of the technology company’s stock after selling 13,266 shares during the period. Public Employees Retirement System of Ohio’s holdings in Fortive were worth $11,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in Fortive by 70.1% during the 1st 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 during the last quarter. BNP Paribas Financial Markets lifted its holdings in Fortive by 104.3% during the 1st quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock worth $31,748,000 after purchasing an additional 188,415 shares during the last quarter. California State Teachers Retirement System raised its holdings in Fortive by 2.3% in the 4th 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 lifted its position in shares of Fortive by 0.6% during the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after acquiring an additional 33,990 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Fortive by 6.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after acquiring an additional 17,225 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Price Performance

FTV traded up $0.27 on Monday, reaching $71.26. The stock had a trading volume of 1,475,650 shares, compared to its average volume of 1,682,808. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The firm has a 50-day moving average of $74.03 and a 200-day moving average of $78.44. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fortive Co. will post 3.81 EPS for the current year.

Analyst Ratings Changes

FTV has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and cut their target price for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Citigroup cut their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company cut their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Friday. Finally, Barclays lowered their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.91.

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.