Fortive Co. (NYSE:FTV) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Fortive Co. (NYSE:FTV) by 18.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 653,936 shares of the technology company’s stock after selling 148,382 shares during the period. Allspring Global Investments Holdings LLC owned about 0.19% of Fortive worth $48,457,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its stake in shares of Fortive by 4.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after acquiring an additional 126 shares during the last quarter. Lipe & Dalton boosted its stake in Fortive by 1.9% during the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after purchasing an additional 130 shares during the last quarter. RDA Financial Network grew its holdings in shares of Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after buying an additional 138 shares in the last quarter. Pitcairn Co. raised its position in shares of Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after buying an additional 139 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after buying an additional 146 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Fortive from $83.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, July 25th. Barclays lowered their price objective on Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Truist Financial reduced their price target on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.91.

Fortive Stock Up 0.6 %

Shares of NYSE FTV opened at $73.83 on Wednesday. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The business’s 50 day moving average is $72.30 and its two-hundred day moving average is $77.59. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 2.06 and a beta of 1.12. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts predict that Fortive Co. will post 3.82 EPS 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.