New York State Teachers Retirement System lessened its position in Fortive Corporation (NYSE:FTV) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 466,059 shares of the technology company’s stock after selling 20,525 shares during the quarter. New York State Teachers Retirement System owned 0.13% of Fortive Corporation worth $32,992,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its holdings in shares of Fortive Corporation by 25.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock worth $104,000 after acquiring an additional 350 shares during the last quarter. BDO Wealth Advisors LLC bought a new stake in shares of Fortive Corporation in the 2nd quarter worth about $128,000. Westwood Holdings Group Inc. bought a new stake in shares of Fortive Corporation in the 2nd quarter worth about $139,000. Sun Life Financial INC lifted its holdings in shares of Fortive Corporation by 21,940.0% in the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,194 shares during the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Fortive Corporation by 1.0% in the 2nd quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 78.85% of the company’s stock.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.
Shares of Fortive Corporation (NYSE:FTV) opened at $73.64 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. The firm has a market cap of $25.48 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.53 and a beta of 0.37.
Fortive Corporation (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. equities analysts expect that Fortive Corporation will post 2.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Fortive Corporation’s payout ratio is 10.57%.
Several equities research analysts have recently issued reports on FTV shares. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Tuesday, September 19th. SunTrust Banks, Inc. restated a “buy” rating and issued a $81.00 target price on shares of Fortive Corporation in a report on Friday, October 27th. Morgan Stanley restated an “equal weight” rating and issued a $72.00 target price (up previously from $71.00) on shares of Fortive Corporation in a report on Monday, October 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $66.00 target price on shares of Fortive Corporation in a report on Friday, September 15th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Fortive Corporation currently has a consensus rating of “Hold” and a consensus price target of $69.10.
About Fortive Corporation
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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