California Public Employees Retirement System Boosts Stock Position in Fortive Corporation $FTV

California Public Employees Retirement System grew its position in shares of Fortive Corporation (NYSE:FTV) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 614,817 shares of the technology company’s stock after purchasing an additional 46,759 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Fortive worth $32,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC boosted its stake in Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after buying an additional 424 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares during the last quarter. Capital Analysts LLC lifted its holdings in shares of Fortive by 41.0% in the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after acquiring an additional 152 shares during the last quarter. Banque Transatlantique SA boosted its stake in shares of Fortive by 92.8% in the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after purchasing an additional 270 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Fortive by 92.6% during the 1st quarter. Quarry LP now owns 965 shares of the technology company’s stock valued at $71,000 after purchasing an additional 464 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Fortive to a “hold” rating in a research note on Friday, September 5th. Morgan Stanley lifted their price objective on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their target price on Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Fortive in a research report on Monday. Finally, Robert W. Baird lifted their price target on Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.54.

Fortive Stock Up 2.0%

NYSE FTV opened at $54.77 on Thursday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The stock has a market capitalization of $17.39 billion, a PE ratio of 31.29, a PEG ratio of 3.23 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58. The business’s 50-day moving average is $51.00 and its 200 day moving average is $53.70.

Fortive (NYSE:FTV) last released its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The business had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. Sell-side analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a $0.06 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s payout ratio is 13.71%.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.

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.