Teachers Retirement System of The State of Kentucky Has $2.08 Million Stock Position in Fortive Co. (NYSE:FTV)

Teachers Retirement System of The State of Kentucky cut its holdings in Fortive Co. (NYSE:FTV) by 6.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.

A number of other institutional investors have also made changes to their positions in FTV. Capital Performance Advisors LLP acquired a new stake in Fortive in the 3rd quarter valued at $25,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive in the second quarter valued at about $30,000. International Assets Investment Management LLC bought a new stake in Fortive during the second quarter worth about $30,000. Goodman Advisory Group LLC acquired a new position in Fortive during the second quarter valued at approximately $31,000. Finally, Pinnacle Bancorp Inc. grew its stake in Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Price Performance

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

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

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FTV. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Royal Bank of Canada dropped their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Finally, UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Fortive has an average rating of “Moderate Buy” and an average target price of $86.73.

Fortive 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.