Teachers Retirement System of The State of Kentucky Sells 1,486 Shares of Fortive Co. (NYSE:FTV)

Teachers Retirement System of The State of Kentucky trimmed its position in Fortive Co. (NYSE:FTV) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,377 shares of the technology company’s stock after selling 1,486 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Fortive were worth $2,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in shares of Fortive by 34.2% in the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after purchasing an additional 134,259 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Fortive by 4.5% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after acquiring an additional 35,688 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Fortive by 2.3% during 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 raised its position in shares of Fortive by 0.6% in the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after purchasing an additional 33,990 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Fortive in the 4th quarter worth approximately $885,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Performance

NYSE FTV opened at $72.97 on Friday. The stock has a market capitalization of $25.69 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 2.15 and a beta of 1.13. The stock has a 50-day moving average of $76.07 and a 200 day moving average of $77.93. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Sell-side analysts anticipate that Fortive Co. will post 3.8 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. Fortive’s dividend payout ratio (DPR) is 12.65%.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of research analyst reports. Barclays raised their price target on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Wells Fargo & Company decreased their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, Truist Financial began coverage on shares of Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.46.

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.