New York State Common Retirement Fund Has $11.38 Million Stock Holdings in Fortive Corporation $FTV

New York State Common Retirement Fund boosted its position in shares of Fortive Corporation (NYSE:FTV) by 24.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 232,191 shares of the technology company’s stock after purchasing an additional 45,100 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Fortive worth $11,375,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its position in shares of Fortive by 8,112.0% during the third quarter. TD Waterhouse Canada Inc. now owns 8,212 shares of the technology company’s stock worth $411,000 after purchasing an additional 8,112 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Fortive by 14.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,136 shares of the technology company’s stock worth $2,554,000 after buying an additional 6,613 shares during the period. J. Safra Sarasin Holding AG bought a new position in Fortive during the third quarter worth about $1,333,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Fortive by 2.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 159,533 shares of the technology company’s stock worth $8,042,000 after acquiring an additional 3,566 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in Fortive by 1.8% in the third quarter. Whittier Trust Co. now owns 361,210 shares of the technology company’s stock valued at $18,209,000 after acquiring an additional 6,426 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the topic of several recent analyst reports. Robert W. Baird lifted their price objective on Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Wells Fargo & Company raised their target price on shares of Fortive from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $57.00 price target (up previously from $55.00) on shares of Fortive in a research note on Friday, January 16th. Barclays increased their price objective on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, eleven have issued 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 an average target price of $57.77.

Fortive Stock Performance

Shares of FTV opened at $54.42 on Wednesday. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 3.01 and a beta of 1.12. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The firm has a fifty day simple moving average of $54.51 and a 200 day simple moving average of $51.11. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.