Maryland State Retirement & Pension System Increases Position in Fortive Co. (NYSE:FTV)

Maryland State Retirement & Pension System boosted its stake in shares of Fortive Co. (NYSE:FTVFree Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,751 shares of the technology company’s stock after acquiring an additional 750 shares during the period. Maryland State Retirement & Pension System’s holdings in Fortive were worth $2,216,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FTV. Indiana Trust & Investment Management CO purchased a new position in Fortive during the first quarter valued at $26,000. Cetera Trust Company N.A bought a new position in Fortive during the fourth quarter valued at $28,000. Spire Wealth Management lifted its position in Fortive by 69.3% during the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after purchasing an additional 208 shares during the last quarter. Fortitude Family Office LLC bought a new position in Fortive during the fourth quarter valued at $38,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Fortive by 1,162.8% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock valued at $40,000 after purchasing an additional 500 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on FTV shares. Wells Fargo & Company lowered their price objective on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Barclays increased their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lowered their price objective on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Finally, Citigroup lowered their target price on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.69.

Get Our Latest Stock Report on Fortive

Fortive Trading Up 0.2 %

FTV stock opened at $72.41 on Friday. The company has a market capitalization of $25.49 billion, a PE ratio of 28.62, a P/E/G ratio of 2.12 and a beta of 1.12. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The firm’s 50-day moving average is $74.65 and its 200 day moving average is $78.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Fortive (NYSE:FTVGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. On average, research analysts anticipate that Fortive Co. will post 3.8 EPS for the current year.

About Fortive

(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 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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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