111 Capital Acquires 27,626 Shares of Fortive Corporation $FTV

Key Points

• 111 Capital significantly increased its stake in Fortive Corporation by 654.3%, acquiring an additional 27,626 shares, bringing its total holdings to 31,848 shares worth $1.66 million.
• Fortive reported a loss of revenue year-over-year, with earnings of $0.58 per share, missing the consensus estimate of $0.60, and forecasts an EPS of 2.500-2.600 for FY 2025.
• Despite recent dividend cuts, Fortive stock has received mixed ratings from analysts, with a majority maintaining a "Hold" rating and an average price target of $62.79.

111 Capital grew its holdings in shares of Fortive Corporation (NYSE:FTV - Free Report) by 654.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,848 shares of the technology company's stock after purchasing an additional 27,626 shares during the period. 111 Capital's holdings in Fortive were worth $1,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Accent Capital Management LLC bought a new stake in shares of Fortive during the 1st quarter valued at $26,000. Global X Japan Co. Ltd. lifted its position in Fortive by 114.2% during the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock worth $28,000 after purchasing an additional 201 shares during the period. Geneos Wealth Management Inc. grew its stake in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company's stock worth $37,000 after buying an additional 357 shares in the last quarter. Capital Analysts LLC increased its holdings in Fortive by 41.0% in the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company's stock valued at $38,000 after buying an additional 152 shares during the period. Finally, Banque Transatlantique SA raised its position in shares of Fortive by 92.8% in the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company's stock valued at $38,000 after buying an additional 270 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Up 1.3%

NYSE:FTV opened at $50.43 on Friday. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The company has a market cap of $17.06 billion, a PE ratio of 22.71, a P/E/G ratio of 3.16 and a beta of 1.15. The firm's 50 day simple moving average is $48.35 and its 200 day simple moving average is $60.03.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) 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 business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business posted $0.93 EPS. Fortive's revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FTV shares. Truist Financial reiterated a "hold" rating and set a $55.00 price target (down previously 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 note on Tuesday, July 15th. Barclays set a $54.00 target price on Fortive and gave the company an "equal weight" rating in a report on Thursday, August 14th. Wall Street Zen raised Fortive to a "hold" rating in a report on Friday, September 5th. Finally, BNP Paribas reaffirmed a "neutral" rating on shares of Fortive in a research note on Thursday, June 12th. Four research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average 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.

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