Charles Schwab Investment Management Inc. raised its stake in Fortive Corporation (NYSE:FTV - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,045,073 shares of the technology company's stock after acquiring an additional 30,755 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.60% of Fortive worth $149,658,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Parvin Asset Management LLC purchased a new stake in shares of Fortive in the fourth quarter valued at $26,000. American National Bank & Trust purchased a new stake in shares of Fortive in the first quarter valued at $26,000. Accent Capital Management LLC purchased a new stake in shares of Fortive in the first quarter valued at $26,000. Global X Japan Co. Ltd. grew its position in shares of Fortive by 114.2% in the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock valued at $28,000 after purchasing an additional 201 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in Fortive during the fourth quarter valued at about $30,000. 94.94% of the stock is owned by institutional investors and hedge funds.
Fortive Stock Performance
FTV stock traded up $0.08 on Friday, reaching $47.88. The company's stock had a trading volume of 774,048 shares, compared to its average volume of 3,296,760. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a market capitalization of $16.20 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 3.09 and a beta of 1.08. The firm has a fifty day moving average of $56.96 and a two-hundred day moving average of $67.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82.
Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.02). Fortive had a return on equity of 11.96% and a net margin of 13.62%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the company earned $0.93 earnings per share. The business's quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts predict that Fortive Corporation will post 4.05 EPS for the current fiscal year.
Fortive declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 27th that permits the company to buyback 15,630,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of research firms have issued reports on FTV. Mizuho lowered their price target on Fortive from $85.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Cowen downgraded Fortive from a "buy" rating to a "hold" rating in a research report on Tuesday, July 15th. TD Cowen downgraded Fortive from a "buy" rating to a "hold" rating and decreased their target price for the stock from $85.00 to $50.00 in a research report on Tuesday, July 15th. BNP Paribas reiterated a "neutral" rating on shares of Fortive in a research note on Thursday, June 12th. Finally, Barclays set a $54.00 price objective on Fortive and gave the company an "equal weight" rating in a research note on Thursday. Fourteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.57.
Check Out Our Latest Report on Fortive
Fortive Profile
(
Free Report)
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.
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