New York State Teachers Retirement System Sells 15,259 Shares of Fortive Co. (NYSE:FTV)

New York State Teachers Retirement System lessened its holdings in Fortive Co. (NYSE:FTV - Free Report) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 305,927 shares of the technology company's stock after selling 15,259 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Fortive worth $24,147,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new position in shares of Fortive in the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new position in Fortive in the 2nd quarter valued at approximately $31,000. Advisors Asset Management Inc. bought a new position in shares of Fortive during the first quarter valued at $32,000. Finally, Pinnacle Bancorp Inc. grew its stake in shares of Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock worth $33,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Fortive

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company's stock, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares of the company's stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price target on Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a research note on Thursday. Raymond James upgraded shares of Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They set an "overweight" rating and a $89.00 price objective on the stock. StockNews.com upgraded Fortive from a "hold" rating to a "buy" rating in a research note on Friday, September 13th. Finally, Mizuho upgraded Fortive from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.20.

Fortive Stock Performance

Shares of NYSE:FTV traded down $0.09 during trading on Friday, hitting $71.34. 3,334,150 shares of the company were exchanged, compared to its average volume of 1,908,121. The stock has a 50 day moving average of $75.31 and a 200 day moving average of $74.55. Fortive Co. has a 52-week low of $64.69 and a 52-week high of $87.10. The company has a market cap of $24.99 billion, a PE ratio of 28.63, a P/E/G ratio of 2.09 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.95.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, equities research analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, September 13th. Fortive's dividend payout ratio (DPR) is 12.75%.

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.