Pitcairn Co. lowered its holdings in Fortive Corp (NYSE:FTV) by 3.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,977 shares of the technology company’s stock after selling 1,498 shares during the quarter. Pitcairn Co.’s holdings in Fortive were worth $3,366,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of FTV. FMR LLC raised its holdings in shares of Fortive by 20.0% in the 2nd quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock valued at $1,831,768,000 after buying an additional 3,960,523 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Fortive by 23.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,150,214 shares of the technology company’s stock valued at $397,134,000 after buying an additional 984,564 shares during the period. Northern Trust Corp raised its holdings in shares of Fortive by 1.1% in the 2nd quarter. Northern Trust Corp now owns 4,355,498 shares of the technology company’s stock valued at $335,852,000 after buying an additional 47,476 shares during the period. Bessemer Group Inc. raised its holdings in shares of Fortive by 0.3% in the 2nd quarter. Bessemer Group Inc. now owns 3,909,686 shares of the technology company’s stock valued at $301,477,000 after buying an additional 13,072 shares during the period. Finally, Winslow Capital Management LLC raised its holdings in shares of Fortive by 15.2% in the 2nd quarter. Winslow Capital Management LLC now owns 2,970,792 shares of the technology company’s stock valued at $229,078,000 after buying an additional 391,138 shares during the period. Institutional investors own 85.24% of the company’s stock.
FTV has been the topic of several research analyst reports. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, October 1st. Morgan Stanley set a $90.00 price objective on Fortive and gave the company an “equal weight” rating in a report on Tuesday, October 2nd. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a report on Tuesday, September 4th. Credit Suisse Group initiated coverage on Fortive in a report on Friday, October 12th. They issued a “neutral” rating and a $89.00 price objective on the stock. Finally, UBS Group boosted their price objective on Fortive from $86.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Fortive currently has an average rating of “Buy” and a consensus target price of $87.18.
In other news, insider William W. Pringle sold 440 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total transaction of $34,927.20. Following the completion of the transaction, the insider now directly owns 20,626 shares of the company’s stock, valued at approximately $1,637,291.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Raj Ratnakar sold 30,912 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $80.71, for a total value of $2,494,907.52. Following the transaction, the vice president now directly owns 13,244 shares of the company’s stock, valued at $1,068,923.24. The disclosure for this sale can be found here. Insiders have sold a total of 47,772 shares of company stock valued at $3,855,093 over the last three months. 12.20% of the stock is currently owned by insiders.
FTV opened at $74.86 on Monday. Fortive Corp has a 12 month low of $69.03 and a 12 month high of $88.34. The firm has a market cap of $25.00 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.07 and a beta of 0.98. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 0.54.
Fortive (NYSE:FTV) last released its earnings results on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Fortive had a return on equity of 24.91% and a net margin of 15.72%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. As a group, research analysts forecast that Fortive Corp will post 3 EPS for the current fiscal year.
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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
Further Reading: Can individual investors take part in an IPO?
Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.