Transcend Capital Advisors LLC Boosts Stock Position in Fortive Co. (NYSE:FTV)

Transcend Capital Advisors LLC increased its holdings in Fortive Co. (NYSE:FTV) by 34.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,698 shares of the technology company’s stock after purchasing an additional 951 shares during the period. Transcend Capital Advisors LLC’s holdings in Fortive were worth $274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FTV. Nordea Investment Management AB increased its holdings 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 worth $77,058,000 after buying an additional 369,351 shares during the period. BNP Paribas Financial Markets lifted its position in 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 purchasing an additional 188,415 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Fortive by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock valued at $42,496,000 after purchasing an additional 13,251 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Fortive by 6.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock worth $23,719,000 after purchasing an additional 17,225 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Fortive by 0.6% in the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after buying an additional 33,990 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 0.7 %

NYSE FTV traded down $0.50 during trading hours on Monday, reaching $67.94. 1,410,073 shares of the company’s stock traded hands, compared to its average volume of 1,703,415. The firm has a market cap of $23.80 billion, a PE ratio of 27.05, a PEG ratio of 2.06 and a beta of 1.12. 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 Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The firm has a 50-day simple moving average of $73.44 and a 200 day simple moving average of $78.41.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Sell-side analysts anticipate that Fortive Co. will post 3.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reduced their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, July 25th. Citigroup dropped their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Finally, Truist Financial decreased their target price on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.91.

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.