Huntington National Bank Sells 1,721 Shares of Fortive Corp (NYSE:FTV)

Huntington National Bank decreased its holdings in Fortive Corp (NYSE:FTV) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,803 shares of the technology company’s stock after selling 1,721 shares during the period. Huntington National Bank’s holdings in Fortive were worth $604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FTV. DNB Asset Management AS increased its stake in shares of Fortive by 5.1% in the 2nd quarter. DNB Asset Management AS now owns 62,629 shares of the technology company’s stock valued at $5,106,000 after purchasing an additional 3,055 shares during the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Fortive by 2.4% in the 2nd quarter. Douglas Lane & Associates LLC now owns 499,513 shares of the technology company’s stock valued at $40,720,000 after purchasing an additional 11,617 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Fortive by 1.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 19,528 shares of the technology company’s stock valued at $1,592,000 after purchasing an additional 226 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Fortive by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 137,522 shares of the technology company’s stock valued at $11,211,000 after purchasing an additional 402 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its stake in shares of Fortive by 5.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 3,390 shares of the technology company’s stock valued at $277,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 82.75% of the company’s stock.

Shares of NYSE FTV traded up $0.59 during mid-day trading on Friday, hitting $72.88. 852,302 shares of the stock traded hands, compared to its average volume of 1,727,824. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.19 and a quick ratio of 0.96. Fortive Corp has a twelve month low of $62.89 and a twelve month high of $89.48. The company has a market cap of $24.68 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 2.68 and a beta of 1.21. The firm has a 50 day simple moving average of $68.97 and a two-hundred day simple moving average of $75.10.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, October 24th. The technology company reported $0.87 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.87. Fortive had a return on equity of 17.41% and a net margin of 37.57%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business posted $0.86 EPS. Fortive’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities research analysts anticipate that Fortive Corp will post 3.45 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on FTV. Gordon Haskett lowered Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley decreased their price target on Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. Citigroup decreased their price target on Fortive from $86.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Royal Bank of Canada set a $73.00 price target on Fortive and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Raymond James set a $84.00 price target on Fortive and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $78.25.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

Featured Story: What is the return on assets formula?

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