DNB Asset Management AS Purchases 5,185 Shares of Fortive Co. (NYSE:FTV)

DNB Asset Management AS raised its position in shares of Fortive Co. (NYSE:FTV) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,797 shares of the technology company’s stock after acquiring an additional 5,185 shares during the period. DNB Asset Management AS’s holdings in Fortive were worth $7,024,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FTV. Cutler Group LLC CA boosted its holdings in shares of Fortive by 77.2% during the fourth quarter. Cutler Group LLC CA now owns 955 shares of the technology company’s stock worth $70,000 after acquiring an additional 416 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Fortive by 17.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock valued at $80,000 after buying an additional 167 shares during the period. Private Trust Co. NA boosted its stake in shares of Fortive by 10.6% in the fourth quarter. Private Trust Co. NA now owns 6,476 shares of the technology company’s stock valued at $477,000 after buying an additional 621 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Fortive in the fourth quarter valued at approximately $2,218,000. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of Fortive by 7.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 4,947 shares of the technology company’s stock valued at $364,000 after buying an additional 344 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of NYSE:FTV traded up $0.09 during trading on Tuesday, hitting $67.73. 3,160,414 shares of the company were exchanged, compared to its average volume of 1,727,081. The business’s 50 day moving average is $73.28 and its 200-day moving average is $78.38. The company has a market capitalization of $23.73 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.12. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10.

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

Analyst Ratings Changes

FTV has been the subject of several recent research reports. Royal Bank of Canada cut their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, July 25th. Citigroup cut their price target on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Truist Financial lowered their price objective on shares of Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.91.

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.