Fortive Co. (NYSE:FTV) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in Fortive Co. (NYSE:FTVGet Rating) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 438,357 shares of the technology company’s stock after buying an additional 20,142 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of Fortive worth $33,442,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Robeco Schweiz AG boosted its position in Fortive by 124.2% in the 4th quarter. Robeco Schweiz AG now owns 77,604 shares of the technology company’s stock valued at $5,920,000 after buying an additional 42,984 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Fortive by 121.3% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,902 shares of the technology company’s stock valued at $5,568,000 after buying an additional 43,249 shares during the last quarter. Swiss National Bank boosted its position in Fortive by 1.6% in the 4th quarter. Swiss National Bank now owns 1,294,084 shares of the technology company’s stock valued at $98,726,000 after buying an additional 20,500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Fortive by 7.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 997,640 shares of the technology company’s stock valued at $76,110,000 after buying an additional 69,658 shares during the last quarter. Finally, TriaGen Wealth Management LLC purchased a new position in Fortive in the 3rd quarter valued at about $1,054,000. 95.21% of the stock is owned by institutional investors.

Several equities analysts have recently commented on FTV shares. Credit Suisse Group reduced their price target on shares of Fortive from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Friday, February 4th. Morgan Stanley reduced their price target on shares of Fortive from $76.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. StockNews.com started coverage on shares of Fortive in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Barclays raised shares of Fortive from an “equal weight” rating to an “overweight” rating and set a $75.00 price target on the stock in a research report on Monday, March 14th. Finally, TheStreet cut shares of Fortive from a “b” rating to a “c+” rating in a research report on Wednesday, February 16th. Six 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 company has a consensus rating of “Buy” and a consensus price target of $80.71.

In related news, Director Alan G. Spoon acquired 17,400 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were acquired at an average price of $58.25 per share, for a total transaction of $1,013,550.00. Following the completion of the purchase, the director now directly owns 98,861 shares of the company’s stock, valued at $5,758,653.25. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christopher M. Mulhall sold 2,736 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $66.38, for a total transaction of $181,615.68. The disclosure for this sale can be found here. Insiders sold 6,115 shares of company stock worth $397,162 in the last 90 days. 4.40% of the stock is owned by company insiders.

Shares of NYSE:FTV traded down $0.44 during trading hours on Tuesday, hitting $58.79. The stock had a trading volume of 128,967 shares, compared to its average volume of 3,280,019. The stock’s fifty day simple moving average is $59.67 and its 200 day simple moving average is $68.06. Fortive Co. has a 1-year low of $56.06 and a 1-year high of $79.87. The firm has a market capitalization of $21.07 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 1.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.74 and a current ratio of 0.96.

Fortive (NYSE:FTVGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Fortive had a net margin of 12.32% and a return on equity of 10.87%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned $0.63 earnings per share. Fortive’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Fortive Co. will post 3.09 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, May 27th will be paid a $0.07 dividend. The ex-dividend date is Thursday, May 26th. This represents a $0.28 annualized dividend and a dividend yield of 0.48%. Fortive’s payout ratio is currently 15.56%.

Fortive announced that its Board of Directors has authorized a share buyback program on Thursday, February 17th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Fortive Profile (Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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