Quantbot Technologies LP Has $2.43 Million Stock Position in Fortive Co. (NYSE:FTV)

Quantbot Technologies LP trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 9.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,240 shares of the technology company’s stock after selling 2,795 shares during the quarter. Quantbot Technologies LP’s holdings in Fortive were worth $2,429,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FTV. Nordea Investment Management AB boosted its stake in shares of Fortive by 70.1% during the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after acquiring an additional 369,351 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Fortive by 4.5% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after buying an additional 35,688 shares during the period. BNP Paribas Financial Markets grew its stake in Fortive by 104.3% in the 1st quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after buying an additional 188,415 shares during the last quarter. California State Teachers Retirement System raised its holdings in 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 acquiring an additional 13,251 shares during the period. Finally, Capital World Investors lifted its position in Fortive by 0.6% during the 4th quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after acquiring an additional 33,990 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on FTV shares. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research report on Monday. Barclays cut their price target on Fortive from $97.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup lowered their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company cut their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Fortive Price Performance

NYSE:FTV traded up $0.64 during mid-day trading on Friday, hitting $75.59. The company’s stock had a trading volume of 1,296,398 shares, compared to its average volume of 1,638,060. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $74.47 and a 200-day moving average of $78.16. The company has a market capitalization of $26.61 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 2.16 and a beta of 1.12.

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

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.