State Board of Administration of Florida Retirement System Boosts Position in Fortive Co. (NYSE:FTV)

State Board of Administration of Florida Retirement System increased its holdings in shares of Fortive Co. (NYSE:FTVFree Report) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 364,640 shares of the technology company’s stock after purchasing an additional 602 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.10% of Fortive worth $27,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC lifted its holdings in shares of Fortive by 27.0% during the third quarter. HighTower Advisors LLC now owns 165,879 shares of the technology company’s stock valued at $12,284,000 after purchasing an additional 35,276 shares in the last quarter. Pathstone Family Office LLC increased its position in Fortive by 87.2% during the third quarter. Pathstone Family Office LLC now owns 31,436 shares of the technology company’s stock valued at $2,367,000 after acquiring an additional 14,639 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Fortive by 7.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 22,690 shares of the technology company’s stock valued at $1,683,000 after acquiring an additional 1,526 shares during the last quarter. Van ECK Associates Corp increased its position in Fortive by 117.7% during the third quarter. Van ECK Associates Corp now owns 34,711 shares of the technology company’s stock valued at $2,574,000 after acquiring an additional 18,764 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Fortive by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,820,832 shares of the technology company’s stock valued at $135,033,000 after acquiring an additional 13,493 shares during the last quarter. 95.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays reduced their price objective on Fortive from $83.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 26th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Mizuho upped their price objective on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Royal Bank of Canada upped their price objective on Fortive from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 1st. Finally, Bank of America cut Fortive from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.92.

Read Our Latest Stock Report on FTV

Fortive Stock Performance

NYSE:FTV opened at $82.70 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.34 and a debt-to-equity ratio of 0.30. Fortive Co. has a 12-month low of $62.70 and a 12-month high of $83.46. The stock has a 50-day moving average price of $73.66 and a 200 day moving average price of $73.45. The stock has a market capitalization of $35.34 billion, a P/E ratio of 33.89, a P/E/G ratio of 2.59 and a beta of 1.13.

Fortive (NYSE:FTVGet Free Report) last released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Equities research analysts forecast that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, February 23rd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s payout ratio is presently 13.11%.

Fortive Profile

(Free Report)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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