Front Barnett Associates LLC Has $2.75 Million Stock Position in Fortive Corp (NYSE:FTV)

Front Barnett Associates LLC decreased its position in Fortive Corp (NYSE:FTV) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,084 shares of the technology company’s stock after selling 1,500 shares during the period. Front Barnett Associates LLC’s holdings in Fortive were worth $2,748,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in FTV. DNB Asset Management AS grew its holdings in shares of Fortive by 5.1% in the 2nd quarter. DNB Asset Management AS now owns 62,629 shares of the technology company’s stock valued at $5,106,000 after buying an additional 3,055 shares during the period. Douglas Lane & Associates LLC grew its holdings in shares of Fortive by 2.4% in the 2nd quarter. Douglas Lane & Associates LLC now owns 499,513 shares of the technology company’s stock valued at $40,720,000 after buying an additional 11,617 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Fortive by 1.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 19,528 shares of the technology company’s stock valued at $1,592,000 after buying an additional 226 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Fortive by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 137,522 shares of the technology company’s stock valued at $11,211,000 after buying an additional 402 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in shares of Fortive by 5.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 3,390 shares of the technology company’s stock valued at $277,000 after buying an additional 173 shares during the period. 82.75% of the stock is owned by institutional investors.

FTV has been the subject of several research analyst reports. Rosenblatt Securities initiated coverage on shares of Fortive in a report on Thursday. They issued a “neutral” rating and a $77.00 price target for the company. Zacks Investment Research raised shares of Fortive from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a report on Tuesday, October 1st. Berenberg Bank set a $86.00 price target on shares of Fortive and gave the company a “buy” rating in a report on Wednesday, September 18th. Argus lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Finally, Raymond James set a $84.00 price objective on shares of Fortive and gave the company an “outperform” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $78.25.

FTV traded up $0.59 during trading on Friday, hitting $72.88. The company had a trading volume of 860,775 shares, compared to its average volume of 1,727,824. The company has a market capitalization of $24.68 billion, a PE ratio of 23.82, a PEG ratio of 2.68 and a beta of 1.21. Fortive Corp has a one year low of $62.89 and a one year high of $89.48. The firm’s 50-day moving average price is $68.97 and its 200 day moving average price is $75.10. The company has a quick ratio of 0.96, a current ratio of 1.19 and a debt-to-equity ratio of 0.72.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Fortive had a net margin of 37.57% and a return on equity of 17.41%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. Sell-side analysts forecast that Fortive Corp will post 3.45 earnings per share for the current year.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

See Also: Exchange-Traded Funds (ETFs)

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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