Retirement Systems of Alabama Has $6.03 Million Holdings in Fortive Co. (NYSE:FTV)

Retirement Systems of Alabama decreased its stake in shares of Fortive Co. (NYSE:FTV) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,363 shares of the technology company’s stock after selling 1,291 shares during the quarter. Retirement Systems of Alabama’s holdings in Fortive were worth $6,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC grew its holdings in Fortive by 3.6% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after purchasing an additional 135 shares during the period. Patton Albertson Miller Group LLC boosted its position in shares of Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after purchasing an additional 150 shares in the last quarter. Andina Capital Management LLC grew its stake in shares of Fortive by 3.4% in the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock valued at $362,000 after buying an additional 152 shares during the period. Axiom Advisory LLC increased its position in Fortive by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock valued at $734,000 after buying an additional 157 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its stake in Fortive by 4.7% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,641 shares of the technology company’s stock worth $270,000 after buying an additional 162 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the company’s 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 sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive 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 completion of the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Fortive Stock Down 2.7 %

FTV stock opened at $73.66 on Thursday. The stock has a market cap of $25.56 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.15 and a beta of 1.14. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $76.32 and its two-hundred day simple moving average is $74.40. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10.

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

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FTV shares. 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. Barclays lowered their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. UBS Group began coverage on shares of Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective for the company. Truist Financial decreased their target price on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.73.

Fortive Company Profile

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.