Fortive Co. (NYSE:FTV) Holdings Increased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in shares of Fortive Co. (NYSE:FTV) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,513 shares of the technology company’s stock after buying an additional 3,958 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Fortive were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nordea Investment Management AB raised its holdings in shares of Fortive by 70.1% in the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after purchasing an additional 369,351 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Fortive by 4.5% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after purchasing an additional 35,688 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Fortive by 104.3% in the 1st quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock worth $31,748,000 after purchasing an additional 188,415 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Fortive by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock worth $42,496,000 after purchasing an additional 13,251 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Fortive by 0.6% in the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after purchasing an additional 33,990 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FTV. Wells Fargo & Company dropped their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Truist Financial dropped their target price on shares of Fortive from $96.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Citigroup dropped their target price on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Royal Bank of Canada dropped their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Fortive Stock Performance

Shares of FTV opened at $75.59 on Monday. The company’s 50 day moving average price is $74.46 and its 200 day moving average price is $78.25. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a market capitalization of $26.61 billion, a PE ratio of 29.88, a PEG ratio of 2.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Research analysts expect that Fortive Co. will post 3.81 EPS for the current fiscal year.

Fortive Company 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.