Strs Ohio Reduces Holdings in Fortive Corporation $FTV

Strs Ohio decreased its position in shares of Fortive Corporation (NYSE:FTV) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,411 shares of the technology company’s stock after selling 36,020 shares during the period. Strs Ohio owned about 0.05% of Fortive worth $9,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dodge & Cox increased its position in shares of Fortive by 181.5% during the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after acquiring an additional 14,120,456 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Fortive by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after purchasing an additional 4,382,242 shares during the last quarter. Invesco Ltd. increased its holdings in Fortive by 96.6% during the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after purchasing an additional 2,764,432 shares during the last quarter. Select Equity Group L.P. increased its holdings in Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after purchasing an additional 212,025 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Fortive by 2.8% in the first quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after buying an additional 109,307 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Trading Down 1.8%

NYSE:FTV opened at $50.34 on Friday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 3.02 and a beta of 1.15. The business has a fifty day moving average of $48.83 and a 200-day moving average of $57.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 0.70.

Fortive (NYSE:FTV) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The firm had revenue of $1.07 billion during the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. Equities analysts predict that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.06 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 13.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Melius downgraded Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a report on Tuesday, July 22nd. Barclays upped their target price on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday. Mizuho lowered their target price on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Cowen downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, July 15th. Finally, Truist Financial restated a “hold” rating and set a $58.00 price objective (up from $55.00) on shares of Fortive in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.79.

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.