First Hawaiian Bank Sells 615 Shares of Fortive Co. (NYSE:FTV)

First Hawaiian Bank cut its holdings in shares of Fortive Co. (NYSE:FTV) by 12.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,338 shares of the technology company’s stock after selling 615 shares during the quarter. First Hawaiian Bank’s holdings in Fortive were worth $321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTV. Indiana Trust & Investment Management CO bought a new position in Fortive during the 1st quarter worth $26,000. Advisors Asset Management Inc. bought a new position in shares of Fortive in the first quarter worth $32,000. Cetera Trust Company N.A bought a new position in shares of Fortive in the fourth quarter worth $28,000. Spire Wealth Management raised its stake in Fortive by 69.3% in the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after purchasing an additional 208 shares in the last quarter. 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 purchasing an additional 500 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of NYSE FTV traded up $0.83 during mid-day trading on Tuesday, hitting $68.47. 1,776,670 shares of the stock traded hands, compared to its average volume of 1,717,856. The company has a market cap of $23.99 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.12. 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 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $73.28 and a two-hundred day simple moving average of $78.38.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. As a group, equities research analysts forecast that Fortive Co. will post 3.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on FTV shares. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Royal Bank of Canada decreased their price objective on shares of Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 25th. Barclays lowered their price objective on shares of Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company lowered their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.91.

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.