Oregon Public Employees Retirement Fund Boosts Stock Holdings in Fortive Co. (NYSE:FTV)

Oregon Public Employees Retirement Fund grew its position in Fortive Co. (NYSE:FTV) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,206 shares of the technology company’s stock after purchasing an additional 200 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Fortive were worth $2,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FTV. Nordea Investment Management AB grew its position in Fortive by 70.1% in the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after purchasing an additional 369,351 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Fortive by 104.3% during the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after acquiring an additional 188,415 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Fortive by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock worth $42,496,000 after acquiring an additional 13,251 shares during the period. Cetera Investment Advisers boosted its position in Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after purchasing an additional 45,032 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Fortive by 6.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock worth $23,719,000 after purchasing an additional 17,225 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 1.5 %

Fortive stock opened at $72.80 on Friday. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 2.17 and a beta of 1.12. The firm has a 50 day simple moving average of $72.29 and a 200 day simple moving average of $77.10. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. On average, analysts predict that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FTV shares. Barclays lowered their target price on Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Truist Financial decreased their price objective on shares of Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Thursday. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and upped their price objective for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.92.

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.