Public Employees Retirement System of Ohio Lowers Position in Fortive Corporation $FTV

Public Employees Retirement System of Ohio trimmed its holdings in shares of Fortive Corporation (NYSE:FTV) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,297 shares of the technology company’s stock after selling 3,536 shares during the period. Public Employees Retirement System of Ohio’s holdings in Fortive were worth $5,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Fortive by 11.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock valued at $790,000 after purchasing an additional 1,076 shares in the last quarter. Drake & Associates LLC lifted its holdings in Fortive by 28.7% during the first quarter. Drake & Associates LLC now owns 22,298 shares of the technology company’s stock worth $1,632,000 after buying an additional 4,978 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Fortive by 13.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company’s stock valued at $3,757,000 after acquiring an additional 5,963 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of Fortive in the 1st quarter valued at $3,542,000. Finally, Perpetual Ltd increased its holdings in shares of Fortive by 60.0% in the 1st quarter. Perpetual Ltd now owns 239,735 shares of the technology company’s stock valued at $17,544,000 after acquiring an additional 89,891 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of FTV opened at $48.53 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The company’s fifty day moving average price is $48.48 and its 200-day moving average price is $60.69. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32. The firm has a market capitalization of $16.42 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.08 and a beta of 1.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.93 EPS. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, equities research analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.06 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s dividend payout ratio is currently 10.81%.

Analysts Set New Price Targets

FTV has been the subject of a number of analyst reports. BNP Paribas restated a “neutral” rating on shares of Fortive in a research note on Thursday, June 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $50.00 target price (down from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Melius cut shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a report on Tuesday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of Fortive from $87.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 1st. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, Fortive has an average rating of “Hold” and an average price target of $62.79.

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.