Fortive Corporation $FTV Stock Position Decreased by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. has decreased its holdings in Fortive Corporation by 7.2%, owning 246,089 shares now valued at approximately $16.67 million.
• Fortive's stock recently increased by 3.2%, trading around $49.28, with a market cap of $16.67 billion and a 1-year price range between $46.34 and $83.32.
• The company reported Q2 earnings of $0.58 EPS, below expectations, and has set its FY 2025 guidance at $2.500-2.600 EPS.

APG Asset Management N.V. decreased its stake in Fortive Corporation (NYSE:FTV - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 246,089 shares of the technology company's stock after selling 19,015 shares during the period. APG Asset Management N.V. owned 0.07% of Fortive worth $16,672,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FTV. Redmond Asset Management LLC grew its position in shares of Fortive by 1.0% during the first quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company's stock worth $1,062,000 after acquiring an additional 142 shares during the last quarter. Capital Analysts LLC grew its position in shares of Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company's stock worth $38,000 after acquiring an additional 152 shares during the last quarter. Tandem Capital Management Corp ADV grew its position in shares of Fortive by 0.6% during the first quarter. Tandem Capital Management Corp ADV now owns 27,557 shares of the technology company's stock worth $2,017,000 after acquiring an additional 160 shares during the last quarter. Forum Financial Management LP grew its position in shares of Fortive by 2.3% during the first quarter. Forum Financial Management LP now owns 7,119 shares of the technology company's stock worth $521,000 after acquiring an additional 161 shares during the last quarter. Finally, RDA Financial Network grew its position in shares of Fortive by 3.5% during the first quarter. RDA Financial Network now owns 4,965 shares of the technology company's stock worth $363,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Fortive Price Performance

NYSE FTV traded down $0.19 on Friday, reaching $47.82. 2,948,731 shares of the stock traded hands, compared to its average volume of 4,650,919. The firm's fifty day simple moving average is $51.97 and its 200 day simple moving average is $65.05. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 3.03 and a beta of 1.08. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32.

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

Fortive Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th. Fortive's dividend payout ratio (DPR) is presently 14.41%.

Fortive declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 27th that permits the company to buyback 15,630,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

FTV has been the subject of several recent research reports. Melius lowered shares of Fortive from a "buy" rating to a "hold" rating and set a $62.00 price target for the company. in a research report on Tuesday, July 22nd. Barclays set a $54.00 target price on Fortive and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Wells Fargo & Company lowered their target price on Fortive from $72.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lowered their target price on Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Finally, Truist Financial restated a "hold" rating and issued a $55.00 target price (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, Fortive presently has a consensus rating of "Hold" and an average target price of $65.57.

About Fortive

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.