Fortive Co. (NYSE:FTV) Shares Sold by Comerica Bank

Comerica Bank decreased its position in Fortive Co. (NYSE:FTV) by 9.4% in the 1st quarter, Holdings Channel reports. The fund owned 104,284 shares of the technology company’s stock after selling 10,836 shares during the period. Comerica Bank’s holdings in Fortive were worth $8,971,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Flossbach Von Storch AG increased its stake in shares of Fortive by 4.8% in the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after buying an additional 512,414 shares during the last quarter. Brown Advisory Inc. increased its stake 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 buying an additional 878,523 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after buying an additional 1,999,792 shares during the last quarter. Capital World Investors increased its stake in shares of Fortive by 0.6% in the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after buying an additional 33,990 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Fortive in the fourth quarter worth $268,686,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

FTV has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target 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. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Wells Fargo & Company decreased 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. Barclays decreased their price objective on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Finally, Citigroup decreased their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.91.

Fortive Stock Performance

Shares of FTV traded down $1.46 during midday trading on Friday, hitting $69.00. 929,057 shares of the stock traded hands, compared to its average volume of 1,691,114. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The firm has a market capitalization of $24.17 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The business’s 50 day moving average price is $73.59 and its two-hundred day moving average price is $78.33.

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