Daiwa Securities Group Inc. Raises Position in Fortive Corp (NYSE:FTV)

Daiwa Securities Group Inc. raised its stake in shares of Fortive Corp (NYSE:FTV) by 1,240.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,844 shares of the technology company’s stock after purchasing an additional 146,995 shares during the period. Daiwa Securities Group Inc.’s holdings in Fortive were worth $10,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC grew its stake in shares of Fortive by 2.0% during the second quarter. LPL Financial LLC now owns 7,831 shares of the technology company’s stock valued at $638,000 after buying an additional 153 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in shares of Fortive by 4.5% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $302,000 after buying an additional 160 shares during the last quarter. Zions Bancorporation N.A. grew its stake in shares of Fortive by 5.4% during the second quarter. Zions Bancorporation N.A. now owns 3,390 shares of the technology company’s stock valued at $277,000 after buying an additional 173 shares during the last quarter. O Brien Greene & Co. Inc grew its stake in shares of Fortive by 0.5% during the second quarter. O Brien Greene & Co. Inc now owns 36,185 shares of the technology company’s stock valued at $2,949,000 after buying an additional 175 shares during the last quarter. Finally, Dempze Nancy E grew its stake in shares of Fortive by 1.6% during the second quarter. Dempze Nancy E now owns 12,070 shares of the technology company’s stock valued at $985,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.

Shares of NYSE:FTV traded up $0.59 during trading on Friday, reaching $72.88. 856,810 shares of the company’s stock traded hands, compared to its average volume of 2,192,175. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a quick ratio of 0.96, a current ratio of 1.19 and a debt-to-equity ratio of 0.72. The firm has a market cap of $24.68 billion, a PE ratio of 23.82, a P/E/G ratio of 2.68 and a beta of 1.21. The company has a 50-day simple moving average of $68.91 and a 200-day simple moving average of $75.18.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $0.87 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.87. Fortive had a return on equity of 17.41% and a net margin of 37.57%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm posted $0.86 EPS. Fortive’s revenue was up 16.2% compared to the same quarter last year. On average, equities research analysts forecast that Fortive Corp will post 3.45 EPS for the current year.

FTV has been the topic of a number of analyst reports. Argus cut Fortive from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Berenberg Bank set a $86.00 target price on Fortive and gave the company a “buy” rating in a research note on Wednesday, September 18th. Credit Suisse Group upped their target price on Fortive from $73.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Royal Bank of Canada set a $73.00 target price on Fortive and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Morgan Stanley cut their target price on Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $78.25.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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