State Board of Administration of Florida Retirement System decreased its position in Fortive Corp (NYSE:FTV) by 0.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 419,666 shares of the technology company’s stock after selling 545 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.13% of Fortive worth $34,211,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership grew its stake in shares of Fortive by 16.1% in the first quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock worth $399,119,000 after acquiring an additional 661,196 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Fortive by 18.4% during the second quarter. CIBC Private Wealth Group LLC now owns 1,651,274 shares of the technology company’s stock worth $134,613,000 after buying an additional 257,016 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in Fortive by 11.2% during the first quarter. Champlain Investment Partners LLC now owns 2,034,815 shares of the technology company’s stock worth $170,701,000 after buying an additional 205,445 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of Fortive by 530.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 203,688 shares of the technology company’s stock valued at $17,088,000 after purchasing an additional 171,401 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Fortive by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,033,586 shares of the technology company’s stock valued at $69,929,000 after purchasing an additional 158,849 shares in the last quarter. 84.30% of the stock is currently owned by institutional investors.

NYSE:FTV traded up $0.45 on Thursday, hitting $70.70. 1,987 shares of the stock were exchanged, compared to its average volume of 1,989,342. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 2.66 and a beta of 1.19. Fortive Corp has a 52 week low of $62.89 and a 52 week high of $89.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.23. The company’s 50-day moving average price is $75.98 and its 200 day moving average price is $80.32.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. As a group, equities research analysts predict that Fortive Corp will post 3.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 9.15%.

In other news, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the completion of the sale, the senior vice president now directly owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.70% of the company’s stock.

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Zacks Investment Research cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Morgan Stanley cut Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target for the company. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Berenberg Bank started coverage on Fortive in a report on Wednesday, May 15th. They issued a “buy” rating and a $96.00 price target for the company. Finally, Raymond James set a $84.00 price target on Fortive and gave the company an “outperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $85.87.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

Further Reading: Hold Rating

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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