Deutsche Bank AG Sells 175,064 Shares of Fortive Corporation (NYSE:FTV)

Deutsche Bank AG cut its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,297,559 shares of the technology company's stock after selling 175,064 shares during the quarter. Deutsche Bank AG owned 0.38% of Fortive worth $94,955,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in shares of Fortive during the fourth quarter worth approximately $26,000. American National Bank & Trust acquired a new position in shares of Fortive during the first quarter worth approximately $26,000. Accent Capital Management LLC acquired a new position in shares of Fortive during the first quarter worth approximately $26,000. Global X Japan Co. Ltd. raised its position 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 worth $28,000 after purchasing an additional 201 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in shares of Fortive during the fourth quarter worth approximately $30,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Cowen lowered Fortive from a "buy" rating to a "hold" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lowered their target price on Fortive from $58.00 to $56.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. Robert W. Baird lowered their target price on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Melius lowered Fortive from a "buy" rating to a "hold" rating and set a $62.00 target price on the stock. in a research report on Tuesday, July 22nd. Finally, Melius Research raised Fortive to a "hold" rating in a research report on Tuesday, July 22nd. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $65.57.

Fortive Stock Performance

Shares of Fortive stock traded up $0.09 during trading hours on Friday, hitting $47.89. 905,312 shares of the company's stock traded hands, compared to its average volume of 3,298,276. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 3.09 and a beta of 1.08. The company has a fifty day simple moving average of $56.96 and a 200-day simple 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 announced its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). Fortive had a net margin of 13.62% and a return on equity of 11.96%. The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the prior year, the business earned $0.93 earnings per share. The company's revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

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

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.