Fortive Corporation $FTV Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in Fortive Corporation (NYSE:FTV - Free Report) by 34.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 455,150 shares of the technology company's stock after selling 240,770 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Fortive worth $27,805,114 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FTV. BlackRock Inc. acquired a new stake in shares of Fortive during the second quarter worth $1,626,463,000. Flossbach Von Storch SE acquired a new position in shares of Fortive in the 2nd quarter valued at $739,668,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Fortive during the second quarter worth $527,526,000. Norges Bank bought a new position in shares of Fortive during the fourth quarter worth approximately $491,928,000. Finally, Geode Capital Management LLC boosted its position in Fortive by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company's stock worth $483,327,000 after buying an additional 116,939 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Fortive stock traded up $1.46 during mid-day trading on Tuesday, reaching $56.65. 1,147,544 shares of the company were exchanged, compared to its average volume of 3,206,948. Fortive Corporation has a 12 month low of $47.31 and a 12 month high of $64.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. The firm has a market cap of $17.11 billion, a PE ratio of 33.51, a PEG ratio of 2.27 and a beta of 1.05. The company has a fifty day simple moving average of $59.91 and a 200-day simple moving average of $59.35.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, equities research analysts expect that Fortive Corporation will post 3.02 earnings per share for the current fiscal year.

Fortive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.07 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. This is an increase from Fortive's previous quarterly dividend of $0.06. Fortive's dividend payout ratio (DPR) is presently 16.57%.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the sale, the senior vice president directly owned 79,118 shares in the company, valued at $4,872,877.62. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings lowered Fortive from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. Truist Financial reiterated a "hold" rating and set a $68.00 target price (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Argus reaffirmed a "buy" rating and issued a $68.00 target price on shares of Fortive in a report on Wednesday, August 19th. Finally, Morgan Stanley upped their price target on shares of Fortive from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $63.10.

About Fortive

Fortive Corporation NYSE: FTV is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive's portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.

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