Crestwood Advisors Group LLC Has $8.48 Million Stock Holdings in Fortive Corporation (NYSE:FTV)

Crestwood Advisors Group LLC lessened its stake in shares of Fortive Corporation (NYSE:FTV - Free Report) by 78.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,911 shares of the technology company's stock after selling 426,514 shares during the period. Crestwood Advisors Group LLC's holdings in Fortive were worth $8,482,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FTV. Parvin Asset Management LLC purchased a new stake in shares of Fortive during the fourth quarter valued at $26,000. American National Bank & Trust purchased a new stake in shares of Fortive during the first quarter valued at $26,000. Global X Japan Co. Ltd. grew its holdings in shares of Fortive by 114.2% during the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock valued at $28,000 after buying an additional 201 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Fortive during the fourth quarter valued at $30,000. Finally, Quarry LP lifted its position in Fortive by 229.6% during the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock valued at $38,000 after purchasing an additional 349 shares during the period. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FTV shares. Mizuho decreased their price objective on shares of 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 shares of Fortive from a "buy" rating to a "hold" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. decreased their price objective on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. BNP Paribas reiterated a "neutral" rating on shares of Fortive in a research report on Thursday, June 12th. Finally, Truist Financial decreased their price objective on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $69.92.

Fortive Trading Down 0.9%

Shares of Fortive stock traded down $0.46 during trading on Monday, hitting $50.07. The stock had a trading volume of 3,630,615 shares, compared to its average volume of 2,857,716. The stock has a 50 day simple moving average of $65.56 and a 200 day simple moving average of $71.31. The company has a market capitalization of $17.02 billion, a PE ratio of 21.96, a P/E/G ratio of 3.13 and a beta of 1.09. The company has a quick ratio of 0.78, a current ratio of 0.99 and a debt-to-equity ratio of 0.29. Fortive Corporation has a 1 year low of $50.00 and a 1 year high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The company's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. On average, research analysts expect that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 27th that allows the company to repurchase 15,630,000 outstanding shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 14,327 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $73.88, for a total value of $1,058,478.76. Following the completion of the sale, the senior vice president directly owned 51,750 shares in the company, valued at approximately $3,823,290. The trade was a 21.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James A. Lico sold 175,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the transaction, the chief executive officer directly owned 428,585 shares in the company, valued at $31,029,554. This trade represents a 28.99% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Fortive Profile

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.