Fortive Corporation $FTV Stock Position Lifted by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Fortive Corporation (NYSE:FTV) by 111.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,795 shares of the technology company’s stock after buying an additional 2,003 shares during the quarter. GAMMA Investing LLC’s holdings in Fortive were worth $198,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after acquiring an additional 2,811 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Fortive by 199.3% during the 1st quarter. Versant Capital Management Inc now owns 1,365 shares of the technology company’s stock worth $100,000 after purchasing an additional 909 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Fortive by 11.9% during the 1st quarter. Rhumbline Advisers now owns 662,973 shares of the technology company’s stock valued at $48,519,000 after buying an additional 70,554 shares during the last quarter. Czech National Bank grew its stake in shares of Fortive by 4.2% in the 1st quarter. Czech National Bank now owns 78,368 shares of the technology company’s stock valued at $5,735,000 after buying an additional 3,182 shares in the last quarter. Finally, American National Bank & Trust acquired a new position in Fortive in the first quarter worth approximately $26,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

NYSE FTV opened at $48.53 on Monday. The stock has a 50-day simple moving average of $48.48 and a 200 day simple moving average of $60.69. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32. The stock has a market capitalization of $16.42 billion, a PE ratio of 21.86, a P/E/G ratio of 3.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98.

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

Fortive Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, September 12th. Fortive’s dividend payout ratio is presently 10.81%.

Analyst Ratings Changes

A number of analysts have issued reports on FTV shares. Wells Fargo & Company reduced their target price on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Truist Financial reissued a “hold” rating and set a $55.00 target price (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Cowen cut Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $50.00 price target (down previously from $90.00) on shares of Fortive in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, Fortive currently has an average rating of “Hold” and an average price target of $62.79.

Fortive 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.