Fifth Third Bancorp Grows Stock Holdings in Fortive Co. (NYSE:FTV)

Fifth Third Bancorp raised its position in shares of Fortive Co. (NYSE:FTV – Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,862 shares of the technology company’s stock after buying an additional 1,709 shares during the period. Fifth Third Bancorp’s holdings in Fortive were worth $2,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FTV. Credit Suisse AG boosted its holdings in Fortive by 5.8% in the fourth quarter. Credit Suisse AG now owns 688,215 shares of the technology company’s stock valued at $44,218,000 after purchasing an additional 37,903 shares during the period. General Partner Inc. purchased a new position in Fortive in the fourth quarter valued at $39,000. Phoenix Wealth Advisors purchased a new position in Fortive in the fourth quarter valued at $225,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Fortive by 7.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,036 shares of the technology company’s stock worth $1,159,000 after buying an additional 1,286 shares during the last quarter. Finally, Middleton & Co. Inc. MA boosted its position in shares of Fortive by 0.9% during the 4th quarter. Middleton & Co. Inc. MA now owns 128,963 shares of the technology company’s stock worth $8,286,000 after acquiring an additional 1,116 shares in the last quarter. 95.46% of the stock is currently owned by hedge funds and other institutional investors.

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Fortive Trading Up 2.3 %

Shares of FTV opened at $74.02 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $26.04 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.75 and a beta of 1.16. The stock’s fifty day simple moving average is $68.40 and its 200 day simple moving average is $67.07. Fortive Co. has a twelve month low of $52.47 and a twelve month high of $74.87.

Fortive (NYSE:FTV – Get Free Report) last issued its earnings results on Wednesday, April 26th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.02. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.42 billion. Fortive had a return on equity of 11.92% and a net margin of 12.92%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. On average, equities research analysts forecast that Fortive Co. will post 3.35 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on FTV. JPMorgan Chase & Co. upped their price objective on Fortive from $77.00 to $78.00 in a research report on Thursday, April 27th. Citigroup boosted their target price on Fortive from $78.00 to $85.00 in a report on Monday. Wells Fargo & Company boosted their target price on Fortive from $67.00 to $71.00 in a report on Monday. StockNews.com started coverage on Fortive in a research note on Thursday, May 18th. They set a “buy” rating for the company. Finally, Barclays increased their target price on Fortive from $72.00 to $77.00 in a research note on Monday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.55.

Fortive Company Profile

(Free Report)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

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