Oregon Public Employees Retirement Fund Sells 270 Shares of Fortive Co. (NYSE:FTV)

Oregon Public Employees Retirement Fund trimmed its holdings in Fortive Co. (NYSE:FTV) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,746 shares of the technology company’s stock after selling 270 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Fortive were worth $2,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FTV. Private Advisor Group LLC raised its holdings in shares of Fortive by 3.6% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after buying an additional 135 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Fortive by 7,966.7% in the third quarter. International Assets Investment Management LLC now owns 33,154 shares of the technology company’s stock valued at $2,617,000 after buying an additional 32,743 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Fortive by 12.5% in the third quarter. Assenagon Asset Management S.A. now owns 43,684 shares of the technology company’s stock valued at $3,448,000 after buying an additional 4,840 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Fortive by 24.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,673 shares of the technology company’s stock valued at $2,350,000 after buying an additional 5,909 shares during the last quarter. Finally, PFG Investments LLC bought a new position in shares of Fortive in the third quarter valued at about $247,000. 94.94% of the stock is owned by institutional investors.

Fortive Price Performance

Fortive stock opened at $79.61 on Friday. The firm has a market capitalization of $27.62 billion, a P/E ratio of 33.73, a PEG ratio of 2.68 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 business has a 50-day moving average of $78.60 and a 200-day moving average of $76.40. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 13.56%.

Insider Activity at Fortive

In related news, CEO James A. Lico sold 196,117 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the transaction, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on FTV. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. JPMorgan Chase & Co. dropped their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada boosted their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their price objective on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Finally, Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average target price of $87.64.

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.