3,322 Shares in Fortive Co. (NYSE:FTV) Bought by Rockport Wealth LLC

Rockport Wealth LLC acquired a new position in Fortive Co. (NYSE:FTV) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,322 shares of the technology company’s stock, valued at approximately $286,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Fortive during the fourth quarter valued at $268,686,000. Brown Advisory Inc. boosted its position in Fortive by 13.1% during the fourth quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company’s stock valued at $557,929,000 after acquiring an additional 878,523 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Fortive by 15,382.4% during the fourth quarter. Panagora Asset Management Inc. now owns 634,778 shares of the technology company’s stock valued at $46,739,000 after acquiring an additional 630,678 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Fortive by 111.7% during the 4th quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock worth $86,637,000 after purchasing an additional 620,866 shares in the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Fortive during the 4th quarter worth about $45,557,000. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Barclays lowered their target price on shares of Fortive from $97.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Truist Financial lowered their target price on shares of Fortive from $96.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Wells Fargo & Company lowered 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. Finally, Citigroup lowered their target price on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Fortive Stock Performance

Shares of Fortive stock traded up $0.06 on Tuesday, reaching $76.68. 2,125,188 shares of the company traded hands, compared to its average volume of 1,633,078. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a 50 day moving average of $74.47 and a 200 day moving average of $78.43. The firm has a market capitalization of $26.99 billion, a PE ratio of 30.38, a PEG ratio of 2.21 and a beta of 1.12. 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:FTV) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share 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 during the quarter, compared to the consensus estimate of $1.53 billion. Equities analysts forecast that Fortive Co. will post 3.81 earnings per share for the current year.

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.