Fortive Co. (NYSE:FTV) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its position in shares of Fortive Co. (NYSE:FTV) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,240 shares of the technology company’s stock after selling 2,795 shares during the quarter. Quantbot Technologies LP’s holdings in Fortive were worth $2,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after purchasing an additional 369,351 shares during the period. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Fortive by 4.5% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock valued at $61,326,000 after acquiring an additional 35,688 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Fortive by 104.3% in the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after acquiring an additional 188,415 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Fortive by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock worth $42,496,000 after acquiring an additional 13,251 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Fortive by 0.6% during the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after purchasing an additional 33,990 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.9 %

Shares of FTV stock traded up $0.64 on Friday, reaching $75.59. 1,296,398 shares of the stock were exchanged, compared to its average volume of 1,638,060. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a market capitalization of $26.61 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 2.16 and a beta of 1.12. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average price is $74.47 and its 200 day moving average price is $78.16.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. As a group, sell-side analysts expect that Fortive Co. will post 3.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FTV. Barclays lowered their target price on shares of Fortive from $97.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup dropped their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Wells Fargo & Company dropped their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada reduced their price target on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

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.