New York State Common Retirement Fund Decreases Stock Holdings in Fortive Co. (NYSE:FTV)

New York State Common Retirement Fund reduced its holdings in Fortive Co. (NYSE:FTV) by 5.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,691 shares of the technology company’s stock after selling 12,000 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Fortive worth $16,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FTV. Capital Performance Advisors LLP purchased a new stake in Fortive during the 3rd quarter valued at $25,000. Versant Capital Management Inc increased its position in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 297 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of Fortive in the fourth quarter valued at $37,000. Albion Financial Group UT bought a new stake in shares of Fortive in the 4th quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Fortive during the 3rd quarter worth about $57,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on FTV shares. JPMorgan Chase & Co. decreased their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Truist Financial increased their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays reduced their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive Stock Down 2.2 %

NYSE:FTV opened at $80.03 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a 50-day moving average of $78.20 and a 200 day moving average of $76.20. The firm has a market cap of $27.77 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period last year, the company posted $0.98 earnings per share. As a group, research analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

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.