Fortive Co. (NYSE:FTV) Stock Position Decreased by InterOcean Capital Group LLC

InterOcean Capital Group LLC cut its stake in shares of Fortive Co. (NYSE:FTV) by 21.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,510 shares of the technology company’s stock after selling 666 shares during the period. InterOcean Capital Group LLC’s holdings in Fortive were worth $216,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Flossbach Von Storch AG raised its holdings in Fortive by 4.8% during the 4th quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after buying an additional 512,414 shares during the period. Brown Advisory Inc. increased its position in shares of Fortive by 13.1% in the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock worth $557,929,000 after acquiring an additional 878,523 shares in the last quarter. Capital World Investors raised its holdings in shares of Fortive by 0.6% during the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after acquiring an additional 33,990 shares during the period. Norges Bank acquired a new stake in shares of Fortive during the fourth quarter valued at approximately $268,686,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fortive by 12.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,393,874 shares of the technology company’s stock valued at $176,261,000 after acquiring an additional 271,020 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Price Performance

NYSE FTV opened at $69.99 on Friday. The company has a 50 day moving average price of $74.16 and a two-hundred day moving average price of $78.36. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The stock has a market capitalization of $24.64 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12. The company has a quick ratio of 1.17, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, equities analysts predict that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and cut their target price for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. Barclays dropped their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.92.

Fortive 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.