Nordea Investment Management AB Increases Stock Position in Fortive Co. (NYSE:FTV)

Nordea Investment Management AB boosted its stake in Fortive Co. (NYSE:FTV - Free Report) by 70.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 896,550 shares of the technology company's stock after purchasing an additional 369,351 shares during the quarter. Nordea Investment Management AB owned about 0.25% of Fortive worth $77,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FTV. Norges Bank bought a new stake in Fortive in the fourth quarter valued at about $268,686,000. Brown Advisory Inc. increased its holdings in shares of Fortive by 13.1% in the fourth 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 in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Fortive by 15,382.4% in the fourth 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 in the last quarter. Jennison Associates LLC increased its holdings in shares of Fortive by 111.7% in the fourth 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 in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Fortive in the fourth quarter worth about $45,557,000. Institutional investors own 94.94% of the company's stock.

Fortive Stock Down 1.2 %

NYSE FTV traded down $0.90 during trading hours on Tuesday, hitting $72.64. 1,148,805 shares of the company traded hands, compared to its average volume of 1,644,729. The business's 50-day moving average is $74.58 and its 200-day moving average is $78.22. Fortive Co. has a twelve month low of $63.05 and a twelve month 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 stock has a market capitalization of $25.57 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 2.12 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

FTV has been the subject of several recent analyst reports. TD Cowen upgraded Fortive from a "hold" rating to a "buy" rating and increased their price target for the stock from $75.00 to $90.00 in a report on Monday. StockNews.com raised Fortive from a "hold" rating to a "buy" rating in a research report on Monday, May 13th. Wells Fargo & Company reduced their price objective on Fortive from $92.00 to $84.00 and set an "equal weight" rating for the company in a research report on Thursday, April 25th. Citigroup reduced their price objective on Fortive from $101.00 to $98.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. cut Fortive from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Fortive presently has a consensus rating of "Moderate Buy" and an average price target of $87.08.

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.