Natixis Invests $5.87 Million in Fortive Co. (NYSE:FTV)

Natixis bought a new position in shares of Fortive Co. (NYSE:FTV) in the first quarter, Holdings Channel reports. The institutional investor bought 68,258 shares of the technology company’s stock, valued at approximately $5,872,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Pitcairn Co. grew its stake in Fortive by 1.3% during the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after acquiring an additional 139 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Fortive by 6.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after acquiring an additional 17,225 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in Fortive during the 1st quarter valued at about $264,000. Bessemer Group Inc. grew its stake in Fortive by 7.9% during the 1st quarter. Bessemer Group Inc. now owns 9,648 shares of the technology company’s stock valued at $831,000 after acquiring an additional 704 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its stake in Fortive by 319.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 15,368 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 11,704 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on FTV shares. Royal Bank of Canada decreased their price objective on shares of Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday. Truist Financial reduced their target price on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Wells Fargo & Company reduced their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Citigroup reduced their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.92.

Fortive Stock Up 0.0 %

Shares of NYSE:FTV opened at $70.01 on Friday. The company has a market cap of $24.65 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.05 and a beta of 1.12. The firm’s 50-day simple moving average is $74.16 and its 200-day simple moving average is $78.36. 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 Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

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

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.