Fortive Corporation (NYSE:FTV) Stock Position Trimmed by Flossbach Von Storch SE

Flossbach Von Storch SE decreased its position in Fortive Corporation (NYSE:FTV - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,854,422 shares of the technology company's stock after selling 48,818 shares during the quarter. Fortive makes up approximately 3.8% of Flossbach Von Storch SE's portfolio, making the stock its 8th largest position. Flossbach Von Storch SE owned about 3.49% of Fortive worth $867,507,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Parvin Asset Management LLC purchased a new position in shares of Fortive in the 4th quarter worth about $26,000. American National Bank & Trust purchased a new position in shares of Fortive in the 1st quarter worth about $26,000. Global X Japan Co. Ltd. boosted its holdings in shares of Fortive by 114.2% in the 1st quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock worth $28,000 after buying an additional 201 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Fortive in the 4th quarter worth about $30,000. Finally, Quarry LP boosted its holdings in shares of Fortive by 229.6% in the 4th quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after buying an additional 349 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Fortive from $86.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday. Wall Street Zen raised shares of Fortive to a "hold" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. dropped their price objective on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Truist Financial dropped their price objective on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, BNP Paribas reaffirmed a "neutral" rating on shares of Fortive in a report on Thursday, June 12th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $73.67.

Fortive Price Performance

Shares of Fortive stock traded down $0.40 on Friday, reaching $52.66. The stock had a trading volume of 3,538,992 shares, compared to its average volume of 2,806,106. Fortive Corporation has a 1 year low of $50.00 and a 1 year high of $83.32. The company has a market cap of $17.90 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.09. The company has a current ratio of 0.99, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The business's 50 day moving average is $67.32 and its two-hundred day moving average is $72.17.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.85. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. The company's revenue for the quarter was down 3.3% on a year-over-year basis. As a group, research analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

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

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 14,327 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president directly owned 51,750 shares of the company's stock, valued at $3,823,290. This trade represents a 21.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James A. Lico sold 175,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the completion of the sale, the chief executive officer directly owned 428,585 shares in the company, valued at $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

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.