SG Americas Securities LLC Trims Holdings in Fortive Co. (NYSE:FTV)

SG Americas Securities LLC lessened its position in Fortive Co. (NYSE:FTVGet Rating) by 85.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,738 shares of the technology company’s stock after selling 71,298 shares during the period. SG Americas Securities LLC’s holdings in Fortive were worth $715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Fortive in the 4th quarter worth about $221,385,000. First Trust Advisors LP boosted its position in shares of Fortive by 428.0% in the fourth quarter. First Trust Advisors LP now owns 2,976,738 shares of the technology company’s stock worth $227,095,000 after acquiring an additional 2,413,002 shares during the last quarter. Flossbach Von Storch AG grew its holdings in Fortive by 11.3% in the fourth quarter. Flossbach Von Storch AG now owns 11,035,750 shares of the technology company’s stock valued at $841,917,000 after purchasing an additional 1,117,891 shares during the period. Covea Finance acquired a new position in Fortive during the fourth quarter worth approximately $58,488,000. Finally, TD Asset Management Inc. raised its stake in Fortive by 73.2% during the fourth quarter. TD Asset Management Inc. now owns 959,384 shares of the technology company’s stock worth $73,191,000 after purchasing an additional 405,488 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of several research reports. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Monday. Loop Capital reduced their price objective on Fortive from $84.00 to $78.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Cowen decreased their target price on Fortive from $80.00 to $70.00 in a report on Thursday, June 2nd. Robert W. Baird decreased their price target on shares of Fortive from $81.00 to $77.00 in a research report on Friday, July 29th. Finally, Royal Bank of Canada raised their price objective on Fortive from $61.00 to $68.00 in a research report on Friday, July 29th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Fortive currently has a consensus rating of “Hold” and an average target price of $70.71.

Fortive Stock Down 0.4 %

FTV stock opened at $64.17 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $57.87 and a 200-day simple moving average of $60.64. The company has a market capitalization of $22.83 billion, a P/E ratio of 35.65, a PEG ratio of 2.22 and a beta of 1.16. Fortive Co. has a twelve month low of $52.47 and a twelve month high of $79.87.

Fortive (NYSE:FTVGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. Fortive had a net margin of 11.86% and a return on equity of 11.25%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, equities research analysts predict that Fortive Co. will post 3.1 earnings per share for the current fiscal year.

About Fortive

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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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