Sei Investments Co. Increases Holdings in Fortive Co. (NYSE:FTV)

Sei Investments Co. increased its stake in shares of Fortive Co. (NYSE:FTV) by 7.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 734,860 shares of the technology company’s stock after buying an additional 53,230 shares during the quarter. Sei Investments Co.’s holdings in Fortive were worth $63,212,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FTV. Indiana Trust & Investment Management CO purchased a new position in Fortive during the first quarter worth approximately $26,000. Cetera Trust Company N.A purchased a new position in Fortive during the fourth quarter worth approximately $28,000. Spire Wealth Management lifted its position in Fortive by 69.3% during the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock worth $37,000 after buying an additional 208 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Fortive during the fourth quarter worth approximately $38,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Fortive by 1,162.8% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock worth $40,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FTV. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Barclays cut their target price on Fortive from $97.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company cut their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Truist Financial cut their target price on Fortive from $96.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada cut their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, April 25th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Fortive Trading Up 0.8 %

Shares of NYSE FTV traded up $0.64 during trading on Monday, reaching $76.23. The stock had a trading volume of 1,085,559 shares, compared to its average volume of 1,633,936. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The business’s 50-day moving average price is $74.46 and its 200-day moving average price is $78.25. The company has a market cap of $26.84 billion, a P/E ratio of 29.88, a PEG ratio of 2.21 and a beta of 1.12.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, equities research analysts predict 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.