2,712 Shares in Fortive Co. (NYSE:FTV) Purchased by New Century Financial Group LLC

New Century Financial Group LLC bought a new position in shares of Fortive Co. (NYSE:FTV) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,712 shares of the technology company’s stock, valued at approximately $233,000.

A number of other hedge funds also recently added to or reduced their stakes in FTV. Norges Bank acquired a new stake in shares of Fortive in the 4th quarter worth approximately $268,686,000. Brown Advisory Inc. increased its position 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 valued at $557,929,000 after buying an additional 878,523 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of 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 buying an additional 630,678 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Fortive by 111.7% in the 4th quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock worth $86,637,000 after buying an additional 620,866 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new stake in Fortive in the 4th quarter valued at about $45,557,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FTV. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Wells Fargo & Company cut 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. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Citigroup cut their price target on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Barclays upped their price objective on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.69.

Fortive Stock Performance

Fortive stock opened at $72.28 on Friday. The stock has a fifty day moving average price of $74.72 and a 200 day moving average price of $78.13. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The firm has a market capitalization of $25.44 billion, a P/E ratio of 28.57, a PEG ratio of 2.12 and a beta of 1.12.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Equities research analysts anticipate that Fortive Co. will post 3.8 earnings per share for the current 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.