Public Employees Retirement Association of Colorado Sells 1,580 Shares of Fortive Co. (NYSE:FTV)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,787 shares of the technology company’s stock after selling 1,580 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Fortive were worth $3,615,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO bought a new stake in shares of Fortive in the 1st quarter valued at $26,000. Advisors Asset Management Inc. acquired a new position in shares of Fortive during the 1st quarter valued at $32,000. Ridgewood Investments LLC acquired a new position in shares of Fortive during the 2nd quarter valued at $30,000. International Assets Investment Management LLC acquired a new position in shares of Fortive during the 2nd quarter valued at $30,000. Finally, J.Safra Asset Management Corp acquired a new position in Fortive during the second quarter worth $34,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FTV shares. Barclays upped their price objective on shares of Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. Morgan Stanley initiated coverage on shares of Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price for the company. Truist Financial reduced their target price on shares of Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.23.

Fortive Price Performance

Shares of NYSE:FTV opened at $76.34 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $26.87 billion, a PE ratio of 30.17, a P/E/G ratio of 2.11 and a beta of 1.11. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a 50-day moving average price of $72.43 and a two-hundred day moving average price of $76.12.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. Equities analysts forecast that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive’s dividend payout ratio is presently 12.65%.

Insiders Place Their Bets

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

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.