Teacher Retirement System of Texas Acquires 32,402 Shares of Fortive Co. (NYSE:FTV)

Teacher Retirement System of Texas increased its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 42.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,514 shares of the technology company's stock after acquiring an additional 32,402 shares during the quarter. Teacher Retirement System of Texas' holdings in Fortive were worth $8,139,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. First Hawaiian Bank raised its position in shares of Fortive by 197.0% in the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock valued at $1,145,000 after purchasing an additional 10,125 shares during the period. Principal Financial Group Inc. lifted its position in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after acquiring an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock worth $2,832,000 after acquiring an additional 7,829 shares during the period. XTX Topco Ltd acquired a new position in shares of Fortive in the third quarter valued at approximately $1,346,000. Finally, Nordea Investment Management AB lifted its holdings in Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock worth $118,292,000 after purchasing an additional 303,788 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FTV shares. StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their price objective on Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a report on Monday, February 10th. Truist Financial increased their target price on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and dropped their price target for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Fortive presently has an average rating of "Moderate Buy" and a consensus target price of $87.18.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. The trade was a 10.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christopher M. Mulhall sold 6,493 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares of the company's stock, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock valued at $19,508,529 in the last ninety days. 1.01% of the stock is owned by company insiders.

Fortive Trading Down 0.7 %

NYSE:FTV traded down $0.53 during mid-day trading on Thursday, hitting $74.66. 1,330,308 shares of the company's stock were exchanged, compared to its average volume of 2,133,414. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $86.21. The company has a 50 day simple moving average of $78.56 and a 200-day simple moving average of $76.95. The firm has a market capitalization of $25.41 billion, a P/E ratio of 31.63, a PEG ratio of 2.68 and a beta of 1.16.

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 return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the company posted $0.98 earnings per share. As a group, research analysts expect 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 issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive's payout ratio is 13.56%.

Fortive Company 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.