Fortive Co. (NYSE:FTV) Shares Purchased by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its position in shares of Fortive Co. (NYSE:FTV) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,822 shares of the technology company’s stock after buying an additional 1,189 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Fortive were worth $2,432,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Indiana Trust & Investment Management CO acquired a new position in Fortive during the first quarter worth approximately $26,000. Cetera Trust Company N.A acquired a new stake in Fortive during the 4th quarter valued at approximately $28,000. Advisors Asset Management Inc. acquired a new stake in Fortive in the first quarter valued at $32,000. Spire Wealth Management grew its stake in Fortive by 69.3% in the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock worth $37,000 after purchasing an additional 208 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Fortive by 1,162.8% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 543 shares of the technology company’s stock valued at $40,000 after acquiring an additional 500 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Down 1.1 %

NYSE:FTV traded down $0.78 during trading hours on Monday, hitting $67.66. 3,502,960 shares of the company traded hands, compared to its average volume of 1,717,461. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a market cap of $23.70 billion, a PE ratio of 26.85, a PEG ratio of 2.06 and a beta of 1.12. The firm’s 50-day simple moving average is $73.44 and its 200-day simple moving average is $78.41. Fortive Co. has a one year low of $63.05 and a one year high of $87.10.

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

Analyst Upgrades and Downgrades

FTV has been the subject of a number of analyst reports. Citigroup reduced their price target on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Barclays decreased their price objective on Fortive from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Finally, Truist Financial cut their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.91.

Fortive 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.