Public Sector Pension Investment Board Has $3.90 Million Stock Holdings in Fortive Corp (NYSE:FTV)

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Public Sector Pension Investment Board cut its stake in shares of Fortive Corp (NYSE:FTV) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,016 shares of the technology company’s stock after selling 6,030 shares during the period. Public Sector Pension Investment Board’s holdings in Fortive were worth $3,897,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CFM Wealth Partners LLC acquired a new stake in Fortive during the 4th quarter worth approximately $33,000. Acadian Asset Management LLC bought a new position in Fortive during the 4th quarter worth $37,000. Meeder Asset Management Inc. increased its stake in Fortive by 41.3% during the 4th quarter. Meeder Asset Management Inc. now owns 486 shares of the technology company’s stock worth $37,000 after acquiring an additional 142 shares during the period. Atlantic Trust LLC bought a new position in Fortive during the 4th quarter worth $37,000. Finally, S.A. Mason LLC bought a new position in Fortive during the 4th quarter worth $38,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

In related news, CAO Christopher M. Mulhall sold 2,702 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $78.46, for a total value of $211,998.92. Following the completion of the sale, the chief accounting officer now directly owns 7,088 shares of the company’s stock, valued at approximately $556,124.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 1,754 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $73.77, for a total value of $129,392.58. Following the completion of the sale, the senior vice president now directly owns 28,705 shares of the company’s stock, valued at $2,117,567.85. The disclosure for this sale can be found here. Insiders sold a total of 144,089 shares of company stock worth $11,074,434 over the last three months. 12.70% of the stock is owned by company insiders.

A number of equities analysts have commented on FTV shares. Morgan Stanley upgraded Fortive from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $91.00 in a research note on Wednesday, December 11th. Cowen upgraded Fortive from an “underperform” rating to a “market perform” rating and set a $70.00 price objective on the stock in a research note on Monday, March 9th. Rosenblatt Securities restated a “hold” rating and set a $78.00 price objective on shares of Fortive in a research note on Tuesday, February 25th. Raymond James lowered Fortive from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 11th. Finally, Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $82.31.

Shares of NYSE FTV traded up $1.77 during mid-day trading on Thursday, hitting $51.66. 201,148 shares of the stock traded hands, compared to its average volume of 3,797,995. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.06 and a quick ratio of 0.88. Fortive Corp has a twelve month low of $37.31 and a twelve month high of $89.48. The company has a market cap of $16.79 billion, a PE ratio of 26.20 and a beta of 1.18. The firm has a 50 day simple moving average of $67.38 and a two-hundred day simple moving average of $71.18.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, February 6th. The technology company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.06. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.95 billion. Fortive had a return on equity of 17.53% and a net margin of 10.09%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. On average, equities research analysts anticipate that Fortive Corp will post 3.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 28th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, February 27th. Fortive’s dividend payout ratio is 8.05%.

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.

See Also: Catch-Up Contributions

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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