State of Alaska Department of Revenue Has $2.97 Million Position in Fortive Co. (NYSE:FTV)

State of Alaska Department of Revenue lessened its position in Fortive Co. (NYSE:FTV) by 14.8% in the 4th quarter, Holdings Channel reports. The firm owned 39,558 shares of the technology company’s stock after selling 6,865 shares during the period. State of Alaska Department of Revenue’s holdings in Fortive were worth $2,966,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Fortive in the 3rd quarter valued at approximately $25,000. Versant Capital Management Inc boosted its holdings in shares of Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after buying an additional 297 shares during the period. Crews Bank & Trust acquired a new position in shares of Fortive in the fourth quarter valued at approximately $37,000. Albion Financial Group UT acquired a new position in shares of Fortive in the fourth quarter valued at approximately $38,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Fortive during the third quarter worth $41,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTV has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. UBS Group assumed coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target for the company. Finally, Wells Fargo & Company increased their target price on shares of Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average price target of $86.45.

Fortive Stock Performance

Shares of FTV opened at $79.12 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The firm has a 50-day moving average of $77.65 and a 200-day moving average of $75.36. The company has a market cap of $27.45 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Fortive Co. has a one year low of $66.15 and a one year high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 12.56% and a net margin of 14.35%. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, equities analysts forecast that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 12.75%.

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.