Invesco Ltd. grew its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 96.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,626,962 shares of the technology company's stock after purchasing an additional 2,764,432 shares during the period. Invesco Ltd. owned approximately 1.66% of Fortive worth $411,781,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Parvin Asset Management LLC acquired a new stake in shares of Fortive in the fourth quarter valued at $26,000. American National Bank & Trust purchased a new stake in Fortive during the 1st quarter worth about $26,000. Accent Capital Management LLC purchased a new stake in shares of Fortive in the 1st quarter valued at about $26,000. Global X Japan Co. Ltd. lifted 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 valued at $28,000 after purchasing an additional 201 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in shares of Fortive in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 94.94% of the company's stock.
Fortive Stock Up 0.5%
NYSE FTV traded up $0.25 during trading hours on Friday, hitting $48.05. The company had a trading volume of 1,685,019 shares, compared to its average volume of 3,303,148. The firm's 50 day moving average is $56.96 and its 200 day moving average is $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. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 3.09 and a beta of 1.08. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32.
Fortive (NYSE:FTV - Get Free Report) last issued its earnings results 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). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%. The business's revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 EPS. Sell-side analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.
Fortive declared that its board has approved a share buyback plan on Tuesday, May 27th that authorizes the company to buyback 15,630,000 outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
Analyst Ratings Changes
Several analysts have commented on FTV shares. Robert W. Baird reduced their price objective on Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Barclays set a $54.00 target price on Fortive and gave the stock an "equal weight" rating in a research report on Thursday. Cowen cut Fortive from a "buy" rating to a "hold" rating in a report on Tuesday, July 15th. Raymond James Financial reduced their target price on Fortive from $90.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. reduced their target price on Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $65.57.
Read Our Latest Analysis on Fortive
About Fortive
(
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.
See Also
Before you consider Fortive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fortive wasn't on the list.
While Fortive currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access