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Nisa Investment Advisors LLC Sells 5,492 Shares of Fortive Corporation (NYSE:FTV)

Fortive logo with Computer and Technology background

Nisa Investment Advisors LLC decreased its holdings in shares of Fortive Corporation (NYSE:FTV - Free Report) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,122 shares of the technology company's stock after selling 5,492 shares during the quarter. Nisa Investment Advisors LLC's holdings in Fortive were worth $6,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FTV. Parvin Asset Management LLC acquired a new stake in Fortive during the 4th quarter worth $26,000. American National Bank & Trust acquired a new position in Fortive during the first quarter valued at approximately $26,000. Global X Japan Co. Ltd. grew its stake in shares of Fortive by 114.2% in 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 last quarter. Park Square Financial Group LLC acquired a new position in shares of Fortive during the fourth quarter valued at about $30,000. Finally, Quarry LP increased its stake in Fortive by 229.6% in the 4th quarter. Quarry LP now owns 501 shares of the technology company's stock valued at $38,000 after buying an additional 349 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Fortive Price Performance

NYSE:FTV traded down $1.05 during trading hours on Tuesday, hitting $51.13. The company's stock had a trading volume of 4,430,635 shares, compared to its average volume of 2,811,784. Fortive Corporation has a twelve month low of $50.00 and a twelve month high of $83.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.78. The company has a market capitalization of $17.38 billion, a P/E ratio of 22.42, a PEG ratio of 2.61 and a beta of 1.09. The stock has a fifty day simple moving average of $67.01 and a 200-day simple moving average of $71.98.

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

FTV has been the topic of a number of analyst reports. Cowen cut shares of Fortive from a "buy" rating to a "hold" rating in a research report on Tuesday. Raymond James Financial reduced their target price on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, July 1st. Truist Financial dropped their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada raised their target price on shares of Fortive from $78.00 to $79.00 and gave the company a "sector perform" rating in a research report on Monday, June 9th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $71.85.

Read Our Latest Analysis on Fortive

Insider Transactions at Fortive

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

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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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