Teachers Retirement System of The State of Kentucky Sells 1,683 Shares of Fortive Co. (NYSE:FTV)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Fortive Co. (NYSE:FTV) by 6.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,326 shares of the technology company’s stock after selling 1,683 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Fortive were worth $2,078,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FTV. Mizuho Securities USA LLC boosted its position in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after buying an additional 3,972,855 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Fortive by 1,005.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after acquiring an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC grew its position in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares during the last quarter. Holocene Advisors LP increased its holdings in Fortive by 1,014.1% in the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after purchasing an additional 841,671 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock valued at $107,271,000 after purchasing an additional 505,882 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Down 0.1 %

Shares of NYSE:FTV opened at $76.82 on Tuesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The business’s 50-day moving average is $76.40 and its 200-day moving average is $74.40. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 2.15 and a beta of 1.14.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities research analysts predict that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial reduced their price target on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $90.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus price target of $86.73.

Insider Activity

In other news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

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.