Evercore Wealth Management LLC Boosts Stake in Fortive Co. (NYSE:FTV)

Evercore Wealth Management LLC lifted its holdings in Fortive Co. (NYSE:FTV) by 3.4% in the 1st quarter, Holdings Channel reports. The firm owned 7,775 shares of the technology company’s stock after acquiring an additional 256 shares during the period. Evercore Wealth Management LLC’s holdings in Fortive were worth $549,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. CVA Family Office LLC raised its holdings in shares of Fortive by 182.5% during the first quarter. CVA Family Office LLC now owns 387 shares of the technology company’s stock valued at $27,000 after purchasing an additional 250 shares during the last quarter. Sowell Financial Services LLC increased its position in Fortive by 418.3% during the first quarter. Sowell Financial Services LLC now owns 425 shares of the technology company’s stock valued at $31,000 after acquiring an additional 343 shares during the last quarter. CSat Investment Advisory L.P. increased its position in Fortive by 44.2% during the first quarter. CSat Investment Advisory L.P. now owns 532 shares of the technology company’s stock valued at $38,000 after acquiring an additional 163 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in Fortive during the first quarter valued at $42,000. Finally, Advisors Capital Management LLC purchased a new stake in Fortive during the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 91.26% of the company’s stock.

In other news, Director Steven M. Rales sold 60,107 shares of the firm’s stock in a transaction dated Wednesday, May 12th. The stock was sold at an average price of $69.79, for a total transaction of $4,194,867.53. Following the completion of the transaction, the director now owns 3,250,072 shares in the company, valued at $226,822,524.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven M. Rales sold 1,368,180 shares of the firm’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $72.45, for a total value of $99,124,641.00. Following the transaction, the director now owns 3,250,072 shares of the company’s stock, valued at approximately $235,467,716.40. The disclosure for this sale can be found here. Company insiders own 12.60% of the company’s stock.

Shares of FTV stock opened at $69.56 on Thursday. Fortive Co. has a 52-week low of $60.82 and a 52-week high of $82.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 0.94. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 4.59 and a beta of 1.13. The business has a fifty day simple moving average of $70.72.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, April 29th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. Fortive had a return on equity of 12.85% and a net margin of 27.76%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Equities analysts anticipate that Fortive Co. will post 2.62 earnings per share for the current fiscal year.

A number of research firms recently commented on FTV. Rosenblatt Securities upped their price objective on Fortive from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, May 4th. Credit Suisse Group reduced their target price on shares of Fortive from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, May 20th. Wolfe Research raised shares of Fortive from a “peer perform” rating to an “outperform” rating and upped their target price for the company from $81.00 to $84.00 in a report on Monday, July 12th. Morgan Stanley upped their target price on shares of Fortive from $76.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, April 30th. Finally, Barclays upped their target price on shares of Fortive from $72.00 to $73.00 and gave the company an “equal weight” rating in a report on Tuesday, April 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $80.25.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

Featured Story: Dual Listing What You Need to Know

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Co. (NYSE:FTV).

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.