Fortive Co. (NYSE:FTV) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd boosted its holdings in shares of Fortive Co. (NYSE:FTV) by 23,512.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,237 shares of the technology company’s stock after acquiring an additional 17,164 shares during the period. Plato Investment Management Ltd’s holdings in Fortive were worth $1,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Shipley& Co Ltd grew its holdings in shares of Fortive by 12.8% during the first quarter. Brown Shipley& Co Ltd now owns 54,519 shares of the technology company’s stock worth $4,613,000 after buying an additional 6,187 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Fortive by 1.0% during the first quarter. California State Teachers Retirement System now owns 583,166 shares of the technology company’s stock worth $50,164,000 after buying an additional 6,007 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in shares of Fortive by 91.2% during the first quarter. Meiji Yasuda Life Insurance Co now owns 12,620 shares of the technology company’s stock worth $1,086,000 after buying an additional 6,020 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Fortive by 18.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,628 shares of the technology company’s stock worth $312,000 after buying an additional 557 shares in the last quarter. Finally, Dynasty Wealth Management LLC purchased a new stake in shares of Fortive during the first quarter worth about $810,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 1.9 %

FTV stock traded down $1.40 during midday trading on Thursday, reaching $70.45. 2,511,790 shares of the company’s stock traded hands, compared to its average volume of 1,697,200. The business has a 50-day moving average price of $73.70 and a two-hundred day moving average price of $78.39. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The company has a market capitalization of $24.68 billion, a P/E ratio of 28.40, a PEG ratio of 2.08 and a beta of 1.12.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Fortive Co. will post 3.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FTV shares. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company lowered their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and boosted their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, Truist Financial lowered their target price on shares of Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.91.

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.