State of Alaska Department of Revenue Has $1.99 Million Stock Holdings in Fortive Corporation $FTV

State of Alaska Department of Revenue cut its stake in Fortive Corporation (NYSE:FTV) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,108 shares of the technology company’s stock after selling 1,840 shares during the period. State of Alaska Department of Revenue’s holdings in Fortive were worth $1,986,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FTV. Brighton Jones LLC raised its holdings in shares of Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after buying an additional 2,811 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Fortive by 7,359.7% during the 1st quarter. GAMMA Investing LLC now owns 131,142 shares of the technology company’s stock worth $9,597,000 after buying an additional 129,384 shares in the last quarter. NBC Securities Inc. raised its holdings in shares of Fortive by 152,000.0% during the 1st quarter. NBC Securities Inc. now owns 1,521 shares of the technology company’s stock worth $111,000 after buying an additional 1,520 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Fortive during the 1st quarter worth $209,000. Finally, Chesley Taft & Associates LLC raised its holdings in shares of Fortive by 0.8% during the 1st quarter. Chesley Taft & Associates LLC now owns 80,391 shares of the technology company’s stock worth $5,883,000 after buying an additional 650 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 0.6%

NYSE FTV opened at $49.76 on Friday. The business’s 50-day moving average price is $48.37 and its two-hundred day moving average price is $60.19. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The firm has a market capitalization of $16.84 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 3.18 and a beta of 1.15. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

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

Fortive Cuts Dividend

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

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of research analyst reports. Raymond James Financial lowered their price target on Fortive from $90.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, July 1st. Melius Research raised Fortive to a “hold” rating in a report on Tuesday, July 22nd. BNP Paribas reaffirmed a “neutral” rating on shares of Fortive in a report on Thursday, June 12th. Wall Street Zen raised Fortive to a “hold” rating in a report on Friday, September 5th. Finally, Mizuho lowered their target price on Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.