Kentucky Retirement Systems Sells 332 Shares of Fortive Co. (NYSE:FTV)

Kentucky Retirement Systems reduced its stake in Fortive Co. (NYSE:FTV) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,075 shares of the technology company’s stock after selling 332 shares during the period. Kentucky Retirement Systems’ holdings in Fortive were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of FTV. Mizuho Securities USA LLC grew its position in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after acquiring an additional 3,972,855 shares during the last quarter. Point72 Asset Management L.P. grew its position in 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 worth $152,899,000 after acquiring an additional 1,761,983 shares during 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 grew its position in Fortive by 1,014.1% during the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after acquiring an additional 841,671 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Fortive by 59.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after acquiring an additional 505,882 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

FTV stock opened at $80.03 on Friday. The business’s fifty day moving average is $78.20 and its 200-day moving average is $76.13. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company has a market cap of $27.77 billion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the company posted $0.98 EPS. Equities research analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is currently 13.56%.

Analysts Set New Price Targets

FTV has been the topic of a number of research analyst reports. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Argus restated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Barclays decreased their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Finally, Truist Financial increased their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.64.

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.