Fortive Co. (NYSE:FTV) Stock Holdings Decreased by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,060 shares of the technology company’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Fortive were worth $8,263,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Quadrant Capital Group LLC grew its position in shares of Fortive by 4.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock valued at $201,000 after buying an additional 126 shares during the last quarter. Edgemoor Investment Advisors Inc. grew its position in shares of Fortive by 4.8% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 3,249 shares of the technology company’s stock valued at $239,000 after buying an additional 150 shares during the last quarter. Fulton Bank N.A. boosted its stake in Fortive by 3.4% during the 1st quarter. Fulton Bank N.A. now owns 4,580 shares of the technology company’s stock valued at $394,000 after purchasing an additional 151 shares during the period. Global Retirement Partners LLC boosted its stake in Fortive by 17.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock valued at $80,000 after purchasing an additional 167 shares during the period. Finally, Redmond Asset Management LLC boosted its stake in Fortive by 1.4% during the 4th quarter. Redmond Asset Management LLC now owns 13,386 shares of the technology company’s stock valued at $986,000 after purchasing an additional 179 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.2 %

Fortive stock traded up $0.18 during trading hours on Tuesday, hitting $72.30. The company had a trading volume of 1,940,465 shares, compared to its average volume of 1,660,008. The firm has a market capitalization of $25.45 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The firm’s fifty day moving average is $75.04 and its 200-day moving average is $78.21. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. On average, research analysts forecast that Fortive Co. will post 3.8 earnings per share for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 31st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, May 31st. Fortive’s dividend payout ratio is currently 12.65%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FTV shares. Wells Fargo & Company reduced their target price on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Truist Financial reduced their price target on shares of Fortive from $96.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays upped their price target on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reduced their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.69.

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.