Steward Partners Investment Advisory LLC decreased its stake in shares of Fortive Corp (NYSE:FTV) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,446 shares of the technology company’s stock after selling 228 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Fortive were worth $167,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Rational Advisors LLC acquired a new position in shares of Fortive during the 2nd quarter worth approximately $33,000. Kavar Capital Partners LLC bought a new position in shares of Fortive during the 2nd quarter worth approximately $37,000. Compagnie Lombard Odier SCmA bought a new position in shares of Fortive during the 2nd quarter worth approximately $41,000. Kings Point Capital Management bought a new position in shares of Fortive during the 2nd quarter worth approximately $41,000. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Fortive by 342.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock worth $55,000 after acquiring an additional 521 shares during the period. 82.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:FTV opened at $72.88 on Friday. The company’s fifty day moving average price is $68.97 and its 200 day moving average price is $75.10. Fortive Corp has a 12 month low of $62.89 and a 12 month high of $89.48. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.19 and a quick ratio of 0.96. The firm has a market capitalization of $24.68 billion, a P/E ratio of 23.82, a P/E/G ratio of 2.68 and a beta of 1.21.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.87. Fortive had a net margin of 37.57% and a return on equity of 17.41%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $0.86 EPS. Fortive’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Fortive Corp will post 3.45 EPS for the current year.
Several research analysts have recently commented on FTV shares. Credit Suisse Group lifted their target price on Fortive from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Argus downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. Gordon Haskett downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Barclays reduced their target price on Fortive from $84.00 to $82.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, Raymond James set a $84.00 target price on Fortive and gave the stock an “outperform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Fortive presently has a consensus rating of “Hold” and an average price target of $78.25.
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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