Kentucky Retirement Systems Sells 1,485 Shares of Fortive Co. (NYSE:FTV)

Kentucky Retirement Systems decreased its position in shares of Fortive Co. (NYSE:FTV) by 5.3% during the 1st quarter, Holdings Channel reports. The fund owned 26,633 shares of the technology company’s stock after selling 1,485 shares during the quarter. Kentucky Retirement Systems’ holdings in Fortive were worth $2,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in shares of Fortive by 4.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock valued at $201,000 after buying an additional 126 shares during the period. Lipe & Dalton boosted its holdings in shares of Fortive by 1.9% in the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after buying an additional 130 shares during the period. Pitcairn Co. boosted its holdings in shares of Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after buying an additional 139 shares during the period. Edgemoor Investment Advisors Inc. boosted its holdings in shares of Fortive by 4.8% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 3,249 shares of the technology company’s stock valued at $239,000 after buying an additional 150 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in shares of Fortive by 3.4% in the first quarter. Fulton Bank N.A. now owns 4,580 shares of the technology company’s stock valued at $394,000 after buying an additional 151 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FTV shares. Royal Bank of Canada reduced their price target on shares of Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday. Wells Fargo & Company reduced their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Barclays reduced their target price on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.91.

Fortive Stock Performance

FTV stock traded up $1.06 during trading hours on Monday, reaching $72.05. The stock had a trading volume of 698,802 shares, compared to its average volume of 1,677,022. The stock has a market capitalization of $25.24 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12. The stock has a 50-day simple moving average of $74.03 and a 200 day simple moving average of $78.44. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. Analysts predict that Fortive Co. will post 3.81 EPS for the current fiscal year.

Fortive 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.