AG2R LA Mondiale Gestion D Actifs Buys New Holdings in Fortive Corporation $FTV

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 15,680 shares of Fortive Corporation, valued at approximately $1.1 million, during the first quarter.
• Fortive recently reported earnings per share of $0.58, missing estimates by $0.02 and reflecting a decline from the previous year.
• The company announced a dividend cut to $0.06 per share, which translates to an annual payout of $0.24, indicating a 0.5% yield.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Fortive Corporation (NYSE:FTV - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,680 shares of the technology company's stock, valued at approximately $1,101,000.

Other institutional investors have also recently modified their holdings of the company. American National Bank & Trust acquired a new stake in Fortive during the first quarter worth approximately $26,000. Accent Capital Management LLC acquired a new stake in Fortive during the first quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its stake 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. Park Square Financial Group LLC acquired a new stake in Fortive during the fourth quarter worth approximately $30,000. Finally, 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 purchasing an additional 357 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

Shares of FTV traded down $0.52 during mid-day trading on Friday, hitting $48.31. The stock had a trading volume of 883,077 shares, compared to its average volume of 3,378,314. The firm has a market cap of $16.35 billion, a P/E ratio of 21.76, a PEG ratio of 3.05 and a beta of 1.10. The business has a fifty day moving average price of $48.84 and a 200-day moving average price of $62.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly 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). The company had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.54 billion. Fortive had a net margin of 13.62% and a return on equity of 11.96%. Fortive's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, equities research analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Fortive declared that its board has approved a stock buyback program on Tuesday, May 27th that allows the company to buyback 15,630,000 shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Fortive Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FTV shares. Truist Financial reiterated a "hold" rating and issued a $55.00 price target (down previously from $60.00) on shares of Fortive in a report on Thursday, July 31st. Wells Fargo & Company cut their price target on Fortive from $72.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 1st. Royal Bank Of Canada cut their price target on Fortive from $58.00 to $56.00 and set a "sector perform" rating on the stock in a report on Thursday, July 31st. Melius Research upgraded Fortive to a "hold" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Fortive to a "hold" rating in a report on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Fortive presently 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.