Fortive Co. (NYSE:FTV) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp raised its position in Fortive Co. (NYSE:FTV) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,666 shares of the technology company’s stock after buying an additional 1,169 shares during the period. Fifth Third Bancorp’s holdings in Fortive were worth $3,236,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Fortive in the fourth quarter worth approximately $268,686,000. Janus Henderson Group PLC lifted its holdings in Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after purchasing an additional 1,999,792 shares in the last quarter. Boston Partners boosted its stake in Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Fortive by 13.1% during the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock worth $557,929,000 after buying an additional 878,523 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Fortive by 15,382.4% in the fourth quarter. Panagora Asset Management Inc. now owns 634,778 shares of the technology company’s stock valued at $46,739,000 after buying an additional 630,678 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on FTV shares. Citigroup dropped their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada dropped their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, July 25th. Truist Financial reduced their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company dropped their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Barclays reduced their price target on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.91.

Fortive Trading Up 2.8 %

FTV traded up $1.97 during mid-day trading on Wednesday, hitting $72.38. 2,282,597 shares of the stock were exchanged, compared to its average volume of 1,750,592. The company has a market cap of $25.48 billion, a PE ratio of 28.61, a PEG ratio of 2.06 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $72.33 and its two-hundred day moving average is $77.85. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm 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 analysts forecast that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Company Profile

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.