BW Gestao de Investimentos Ltda. Decreases Holdings in Fortive Co. (NYSE:FTV)

BW Gestao de Investimentos Ltda. lessened its holdings in Fortive Co. (NYSE:FTV - Free Report) by 35.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the technology company's stock after selling 25,000 shares during the quarter. BW Gestao de Investimentos Ltda.'s holdings in Fortive were worth $3,871,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FTV. Norges Bank bought a new position in Fortive during the 4th quarter worth approximately $268,686,000. Brown Advisory Inc. boosted its stake in Fortive by 13.1% during the 4th quarter. Brown Advisory Inc. now owns 7,577,474 shares of the technology company's stock worth $557,929,000 after acquiring an additional 878,523 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Fortive by 15,382.4% during the 4th quarter. Panagora Asset Management Inc. now owns 634,778 shares of the technology company's stock worth $46,739,000 after acquiring an additional 630,678 shares during the last quarter. Jennison Associates LLC boosted its stake in 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 acquiring an additional 620,866 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in Fortive during the 4th quarter worth approximately $45,557,000. Institutional investors own 94.94% of the company's stock.

Fortive Stock Up 0.2 %

Shares of NYSE:FTV traded up $0.13 during midday trading on Friday, hitting $72.41. The stock had a trading volume of 1,079,887 shares, compared to its average volume of 1,534,441. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. 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 business's 50-day simple moving average is $74.65 and its 200-day simple moving average is $78.21. The company has a market cap of $25.49 billion, a P/E ratio of 28.62, a PEG ratio of 2.12 and a beta of 1.12.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.53 billion. On average, sell-side analysts forecast that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on FTV shares. Citigroup reduced 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. Barclays raised their target price on shares of Fortive from $89.00 to $97.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Truist Financial dropped 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. JPMorgan Chase & Co. downgraded shares of Fortive from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, Wells Fargo & Company dropped their target price on shares of Fortive from $92.00 to $84.00 and set an "equal weight" rating on the stock in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Fortive currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.69.

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.