Russell Investments Group Ltd. Purchases 14,370 Shares of Fortive Co. (NYSE:FTV)

Russell Investments Group Ltd. grew its position in Fortive Co. (NYSE:FTV) by 5.6% during the first quarter, HoldingsChannel reports. The firm owned 269,106 shares of the technology company’s stock after buying an additional 14,370 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fortive were worth $23,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after purchasing an additional 369,351 shares during the period. Ferguson Wellman Capital Management Inc. raised its position in shares of Fortive by 4.5% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock valued at $61,326,000 after purchasing an additional 35,688 shares during the period. BNP Paribas Financial Markets increased its position in Fortive by 104.3% during the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock worth $31,748,000 after acquiring an additional 188,415 shares during the period. California State Teachers Retirement System increased its position in Fortive by 2.3% during the fourth 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 increased its position in Fortive by 0.6% during the fourth 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 period. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 0.5 %

Shares of FTV traded down $0.43 on Wednesday, hitting $78.49. The company’s stock had a trading volume of 453,016 shares, compared to its average volume of 1,631,348. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. The firm’s fifty day moving average price is $74.48 and its 200-day moving average price is $78.30. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The firm has a market capitalization of $27.63 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 2.23 and a beta of 1.12.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share (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 during the quarter, compared to analyst estimates of $1.53 billion. On average, equities research analysts expect that Fortive Co. will post 3.81 EPS for the current year.

Analyst Ratings Changes

FTV has been the topic of a number of research reports. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Citigroup decreased their price target 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. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Finally, Truist Financial decreased their price target on shares of Fortive from $96.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

About Fortive

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.