Fortive Corporation $FTV Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Fortive Corporation (NYSE:FTV) by 18.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,278 shares of the technology company’s stock after buying an additional 6,753 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Fortive were worth $2,296,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dodge & Cox grew its position in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after purchasing an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Fortive by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after buying an additional 4,382,242 shares in the last quarter. Invesco Ltd. raised its position in shares of Fortive by 96.6% in the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after acquiring an additional 2,764,432 shares during the period. Select Equity Group L.P. boosted its stake in shares of Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after acquiring an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Fortive by 2.8% during the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after acquiring an additional 109,307 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 1.8%

Fortive stock opened at $48.53 on Monday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The firm has a 50 day moving average price of $48.48 and a 200 day moving average price of $60.69. The company has a market capitalization of $16.42 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.08 and a beta of 1.10.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). Fortive had a net margin of 13.62% and a return on equity of 11.96%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business posted $0.93 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Research analysts expect that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s dividend payout ratio (DPR) is currently 10.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FTV shares. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $87.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Raymond James Financial lowered their target price on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Wells Fargo & Company lowered their target price on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 1st. Cowen cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, July 15th. Finally, TD Cowen cut shares of Fortive from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $50.00 in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.79.

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.