New York State Teachers Retirement System Sells 16,026 Shares of Fortive Co. (NYSE:FTV)

New York State Teachers Retirement System reduced its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 289,901 shares of the technology company's stock after selling 16,026 shares during the period. New York State Teachers Retirement System owned 0.08% of Fortive worth $21,743,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Private Advisor Group LLC boosted its holdings in shares of Fortive by 3.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock worth $308,000 after buying an additional 135 shares during the period. Wedmont Private Capital boosted its holdings in shares of Fortive by 4.3% during the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock worth $252,000 after buying an additional 137 shares during the period. Patton Albertson Miller Group LLC boosted its holdings in shares of Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock worth $699,000 after buying an additional 150 shares during the period. Andina Capital Management LLC boosted its holdings in shares of Fortive by 3.4% during the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company's stock worth $362,000 after buying an additional 152 shares during the period. Finally, Atria Investments Inc boosted its holdings in shares of Fortive by 1.6% during the 3rd quarter. Atria Investments Inc now owns 10,591 shares of the technology company's stock worth $836,000 after buying an additional 163 shares during the period. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Argus reaffirmed a "hold" rating on shares of Fortive in a report on Monday, November 18th. UBS Group initiated coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a "neutral" rating and a $84.00 target price for the company. Citigroup cut shares of Fortive from a "buy" rating to a "neutral" rating and cut their target price for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Royal Bank of Canada upped their target price on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research note on Monday, February 10th. Finally, StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fortive currently has an average rating of "Moderate Buy" and a consensus price target of $87.64.

Fortive Price Performance

Shares of FTV stock traded up $1.29 during mid-day trading on Wednesday, reaching $83.05. The company's stock had a trading volume of 2,894,339 shares, compared to its average volume of 2,413,979. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a market cap of $28.82 billion, a P/E ratio of 35.19, a PEG ratio of 2.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The firm's 50-day moving average is $77.94 and its two-hundred day moving average is $75.90.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, research analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Friday, February 28th. Fortive's dividend payout ratio (DPR) is currently 13.56%.

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.