Fortive Corporation (NYSE:FTV) Shares Bought by Tredje AP fonden

Tredje AP fonden lifted its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,000 shares of the technology company's stock after buying an additional 50,000 shares during the quarter. Tredje AP fonden owned 0.11% of Fortive worth $28,540,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Parvin Asset Management LLC purchased a new stake in Fortive during the fourth quarter worth $26,000. American National Bank & Trust purchased a new stake in Fortive during the first quarter worth $26,000. Global X Japan Co. Ltd. boosted its position in 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 in the last quarter. Park Square Financial Group LLC purchased a new stake in Fortive during the fourth quarter worth $30,000. Finally, Quarry LP boosted its position in Fortive by 229.6% during the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after purchasing an additional 349 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fortive

In other Fortive news, CEO James A. Lico sold 175,000 shares of the stock in a transaction that occurred 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 owned 428,585 shares of the company's stock, valued at $31,029,554. This trade represents a 28.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Peter C. Underwood sold 14,327 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was 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. This trade represents a 21.68% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FTV. Melius downgraded 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. Wall Street Zen raised Fortive to a "hold" rating in a report on Saturday, July 5th. Barclays reduced their price objective on Fortive from $86.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Citigroup reduced their price objective on Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, BNP Paribas restated a "neutral" rating on shares of Fortive in a research report on Thursday, June 12th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.86.

Fortive Trading Down 2.8%

Fortive stock traded down $1.34 during trading on Friday, hitting $46.59. The company's stock had a trading volume of 4,973,340 shares, compared to its average volume of 3,199,016. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 3.08 and a beta of 1.09. The stock's fifty day moving average is $61.63 and its 200 day moving average is $69.78. Fortive Corporation has a 1-year low of $46.47 and a 1-year high of $83.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.78 and a current ratio of 0.98.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). The company had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.54 billion. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The business's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 earnings per share. As a group, equities research analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

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

About Fortive

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.