Ameriprise Financial Inc. Has $55.72 Million Position in Fortive Corporation $FTV

Key Points

• Ameriprise Financial Inc. increased its position in Fortive Corporation by 38.3% during the first quarter, owning approximately 761,405 shares worth $55.72 million.
• Fortive's recent earnings report showed a miss on estimates, with a reported $0.58 EPS against expectations of $0.60, and revenue of $1.52 billion, slightly below the consensus of $1.54 billion.
• The company has declared a quarterly dividend of $0.06 per share, representing an annualized yield of 0.5%, and has authorized a share repurchase plan allowing for the buyback of 15.63 million shares.

Ameriprise Financial Inc. boosted its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 38.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 761,405 shares of the technology company's stock after buying an additional 211,036 shares during the period. Ameriprise Financial Inc. owned approximately 0.22% of Fortive worth $55,717,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC raised its holdings in Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company's stock worth $428,000 after purchasing an additional 2,811 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Fortive by 6.2% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,222 shares of the technology company's stock worth $467,000 after purchasing an additional 363 shares during the period. Nebula Research & Development LLC acquired a new stake in Fortive in the fourth quarter worth $327,000. Quarry LP raised its holdings in Fortive by 229.6% in the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after purchasing an additional 349 shares during the period. Finally, Northern Trust Corp raised its holdings in Fortive by 15.5% in the fourth quarter. Northern Trust Corp now owns 3,958,622 shares of the technology company's stock worth $296,897,000 after purchasing an additional 532,180 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FTV shares. JPMorgan Chase & Co. cut their target price on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Melius lowered shares of Fortive from a "buy" rating to a "hold" rating and set a $62.00 target price on the stock. in a report on Tuesday, July 22nd. TD Cowen lowered 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 report on Tuesday, July 15th. Melius Research raised shares of Fortive to a "hold" rating in a research report on Tuesday, July 22nd. Finally, Barclays set a $54.00 price objective on shares of Fortive and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Fortive has a consensus rating of "Hold" and an average target price of $65.57.

Fortive Stock Up 0.2%

Shares of FTV stock opened at $48.60 on Thursday. The firm has a fifty day moving average of $52.85 and a 200-day moving average of $65.60. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 3.07 and a beta of 1.08.

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

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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive's dividend payout ratio (DPR) is currently 14.41%.

Fortive declared that its board has authorized a share repurchase plan on Tuesday, May 27th that allows the company to repurchase 15,630,000 shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.

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