Nuveen LLC acquired a new stake in Fortive Corporation (NYSE:FTV - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,047,701 shares of the technology company's stock, valued at approximately $76,671,000. Nuveen LLC owned approximately 0.31% of Fortive as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in shares of Fortive during the fourth quarter valued at approximately $26,000. American National Bank & Trust bought a new stake in Fortive during the 1st quarter valued at $26,000. Accent Capital Management LLC bought a new stake in Fortive during the 1st quarter valued at $26,000. Global X Japan Co. Ltd. raised its holdings 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 buying an additional 201 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Fortive in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 94.94% of the company's stock.
Fortive Stock Performance
FTV stock traded down $0.11 during mid-day trading on Monday, hitting $48.05. The company had a trading volume of 1,408,456 shares, compared to its average volume of 3,315,891. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The stock's fifty day moving average price is $56.46 and its two-hundred day moving average price is $67.17. The firm has a market cap of $16.26 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 3.05 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98.
Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.02). The business had revenue of $1.52 billion for 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%. Fortive's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS. On average, analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.
Fortive declared that its board has authorized a share repurchase plan on Tuesday, May 27th that allows the company to repurchase 15,630,000 shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on FTV shares. Melius Research upgraded shares of Fortive to a "hold" rating in a report on Tuesday, July 22nd. Melius lowered Fortive from a "buy" rating to a "hold" rating and set a $62.00 price objective for the company. in a report on Tuesday, July 22nd. Robert W. Baird dropped their target price on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. TD Cowen cut Fortive from a "buy" rating to a "hold" rating and cut their target price for the company from $85.00 to $50.00 in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised Fortive to a "hold" rating in a research report on Saturday, July 5th. Fourteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $65.57.
Read Our Latest Stock Analysis on Fortive
Fortive Company Profile
(
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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