State of Alaska Department of Revenue Decreases Stock Position in Fortive Co. (NYSE:FTV)

State of Alaska Department of Revenue cut its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 14.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 39,558 shares of the technology company's stock after selling 6,865 shares during the period. State of Alaska Department of Revenue's holdings in Fortive were worth $2,966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Fortive in the 3rd quarter valued at approximately $25,000. Versant Capital Management Inc grew its stake in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock worth $34,000 after buying an additional 297 shares during the last quarter. Crews Bank & Trust bought a new position in Fortive during the 4th quarter worth $37,000. Albion Financial Group UT bought a new position in shares of Fortive in the fourth quarter worth $38,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Fortive in the third quarter worth $41,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on FTV. Royal Bank of Canada increased their price target on Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research report on Monday. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Argus reaffirmed a "hold" rating on shares of Fortive in a research report on Monday, November 18th. JPMorgan Chase & Co. decreased their price target on Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Finally, Citigroup lowered Fortive from a "buy" rating to a "neutral" rating and decreased their price target for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.64.

Fortive Stock Performance

Shares of NYSE:FTV traded up $1.51 during mid-day trading on Thursday, reaching $81.68. The company had a trading volume of 2,290,588 shares, compared to its average volume of 2,384,279. The company's 50-day moving average price is $77.74 and its 200-day moving average price is $75.57. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The firm has a market cap of $28.34 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 2.14 and a beta of 1.15.

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 the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same period last year, the firm earned $0.98 earnings per share. As a group, equities research analysts anticipate that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. Fortive's payout ratio is currently 12.75%.

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.