Balentine LLC Makes New $302,000 Investment in Fortive Co. (NYSE:FTV)

Balentine LLC acquired a new position in shares of Fortive Co. (NYSE:FTVGet Rating) in the first quarter, HoldingsChannel.com reports. The fund acquired 4,950 shares of the technology company’s stock, valued at approximately $302,000.

Other large investors also recently bought and sold shares of the company. National Bank of Canada FI acquired a new stake in shares of Fortive in the fourth quarter worth approximately $109,000. Janney Montgomery Scott LLC lifted its position in Fortive by 16.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,473 shares of the technology company’s stock valued at $646,000 after buying an additional 1,168 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Fortive by 7.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 17,628 shares of the technology company’s stock valued at $1,344,000 after purchasing an additional 1,252 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of Fortive during the fourth quarter valued at approximately $4,009,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of Fortive during the fourth quarter valued at approximately $261,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Fortive Stock Up 0.5 %

Shares of FTV stock opened at $65.59 on Friday. Fortive Co. has a 12 month low of $52.47 and a 12 month high of $79.87. The firm has a market cap of $23.33 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 2.24 and a beta of 1.16. The stock has a 50 day moving average of $58.09 and a 200-day moving average of $60.62. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 0.28.

Fortive (NYSE:FTVGet Rating) last issued its earnings results on Thursday, July 28th. The technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. Fortive had a return on equity of 11.25% and a net margin of 11.86%. Fortive’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. On average, equities analysts predict that Fortive Co. will post 3.11 EPS for the current year.

Analyst Ratings Changes

FTV has been the topic of a number of analyst reports. Robert W. Baird dropped their price objective on shares of Fortive from $81.00 to $77.00 in a research note on Friday, July 29th. Loop Capital dropped their price target on shares of Fortive from $84.00 to $78.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Citigroup lifted their price objective on shares of Fortive from $69.00 to $72.00 in a report on Friday, July 29th. Cowen reduced their price target on shares of Fortive from $80.00 to $70.00 and set a “market perform” rating for the company in a report on Thursday, June 2nd. Finally, Credit Suisse Group set a $74.00 price target on shares of Fortive in a report on Tuesday, July 19th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Fortive has a consensus rating of “Hold” and an average price target of $72.64.

Fortive Profile

(Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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