Blue Trust Inc. increases stake in Fortive Co. (NYSE:FTV)

Blue Trust Inc. increased its holdings in Fortive Co. (NYSE:FTV – Free Report) by 111.3% in the second quarter, according to the company in its most recent SEC disclosure. The firm owned 541 shares of the technology company’s stock after purchasing an additional 285 shares during the quarter. Holdings of Blue Trust Inc. holdings in Fortive were worth $40,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FTV. Indiana Trust & Investment Management CO bought a new position in shares of Fortive in the first quarter valued at $26,000. Advisors Asset Management Inc. bought a new position in Fortive in the first quarter worth approximately $32,000. J.Safra Asset Management Corp purchased a new stake in Fortive during the 2nd quarter valued at approximately $34,000. Spire Wealth Management raised its stake in Fortive by 69.3% in the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after buying an additional 208 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in Fortive in the fourth quarter valued at about $43,000. Institutional investors own 94.94% of the company’s shares.

Changes in Analyst Ratings

A number of equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Barclays cut their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and upped their target price for the stock from $75.00 to $90.00 in a research note on Monday, July 8th . Royal Bank of Canada decreased their price objective on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 25th. Finally, Truist Financial reduced their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.91.

Get the latest stock report on Fortive

Fortive stock up 1.3%

Shares of FTV stock opened at $73.39 on Friday. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 2.06 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95, and a current ratio of 1.23. The company’s 50-day moving average is $72.30, and its two-hundred-day moving average is $77.71. Fortive Co. it has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV – Get Free Report ) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm 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%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. In the same quarter last year, the firm earned $0.85 EPS. As a group, analysts estimate that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive profile

(Free report)

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 offers advanced tools, software and services, including electrical test and measurement, facility and asset lifecycle software, and connected worker security and compliance solutions for the manufacturing, process, healthcare, utilities and energy industries , communications and electronics, and other industries.

See Also

Want to see what other hedge funds own FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Fortive Co. (NYSE:FTV – Free Report).

Get news and reviews for Fortive Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Fortive and related companies with MarketBeat.com’s FREE daily email newsletter.