Los Angeles Capital Management LLC Sells 166,766 Shares of Fortive Co. (NYSE:FTV)

Los Angeles Capital Management LLC reduced its stake in Fortive Co. (NYSE:FTVGet Rating) by 39.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,290 shares of the technology company’s stock after selling 166,766 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Fortive were worth $15,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Regentatlantic Capital LLC boosted its position in shares of Fortive by 5.5% in the 1st quarter. Regentatlantic Capital LLC now owns 3,444 shares of the technology company’s stock worth $210,000 after purchasing an additional 180 shares in the last quarter. Tandem Capital Management Corp ADV boosted its position in shares of Fortive by 0.7% in the 1st quarter. Tandem Capital Management Corp ADV now owns 29,062 shares of the technology company’s stock worth $1,680,000 after purchasing an additional 200 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Fortive by 0.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 48,914 shares of the technology company’s stock worth $2,980,000 after purchasing an additional 200 shares in the last quarter. Analyst IMS Investment Management Services Ltd. boosted its position in shares of Fortive by 7.9% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 3,400 shares of the technology company’s stock worth $259,000 after purchasing an additional 250 shares in the last quarter. Finally, Siemens Fonds Invest GmbH lifted its position in Fortive by 2.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 10,808 shares of the technology company’s stock valued at $822,000 after acquiring an additional 251 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Fortive Trading Down 0.5 %

NYSE:FTV opened at $65.27 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.73. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 2.25 and a beta of 1.16. Fortive Co. has a one year low of $52.47 and a one year high of $79.87. The business has a fifty day moving average price of $58.16 and a 200-day moving average price of $60.57.

Fortive (NYSE:FTVGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The technology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. Fortive had a return on equity of 11.25% and a net margin of 11.86%. Fortive’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. Sell-side analysts forecast that Fortive Co. will post 3.11 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FTV shares. Morgan Stanley upped their price objective on Fortive from $64.00 to $68.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Cowen lowered their price objective on Fortive from $80.00 to $70.00 and set a “market perform” rating on the stock in a research report on Thursday, June 2nd. Citigroup upped their price objective on Fortive from $69.00 to $72.00 in a research report on Friday, July 29th. Robert W. Baird lowered their price objective on Fortive from $81.00 to $77.00 in a research report on Friday, July 29th. Finally, Barclays upped their price objective on Fortive from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.64.

Fortive Company Profile

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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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