State of New Jersey Common Pension Fund D Has $9.18 Million Holdings in Fortive Co. (NYSE:FTV)

State of New Jersey Common Pension Fund D lessened its holdings in Fortive Co. (NYSE:FTV) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,439 shares of the technology company’s stock after selling 1,007 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Fortive were worth $9,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Fortive in the 3rd quarter valued at $25,000. Versant Capital Management Inc lifted its stake in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Fortive in the 4th quarter valued at $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive in the 4th quarter valued at $38,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Fortive in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. cut their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Argus reissued a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Finally, UBS Group assumed coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.64.

Fortive Price Performance

Shares of Fortive stock opened at $81.75 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $28.36 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 2.14 and a beta of 1.15. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The firm’s 50-day moving average price is $77.87 and its two-hundred day moving average price is $75.80.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the previous year, the business earned $0.98 EPS. On average, equities analysts predict that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 0.39%. Fortive’s payout ratio is 12.75%.

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.