Brown Shipley& Co Ltd Has $846,000 Stake in Fortive Corporation $FTV

Key Points

• Brown Shipley & Co Ltd significantly reduced its stake in Fortive Corporation by 67.3% during the 2nd quarter, bringing its holdings to 16,232 shares valued at $846,000.
• Institutional investors own approximately 94.94% of Fortive's stock, with several hedge funds making notable adjustments to their positions recently.
• Fortive's recent earnings report showed a miss in EPS estimates, reporting $0.58 compared to the anticipated $0.60, with revenue down 0.4% year-over-year.

Brown Shipley& Co Ltd decreased its position in shares of Fortive Corporation (NYSE:FTV - Free Report) by 67.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,232 shares of the technology company's stock after selling 33,445 shares during the quarter. Fortive makes up approximately 0.5% of Brown Shipley& Co Ltd's portfolio, making the stock its 27th biggest position. Brown Shipley& Co Ltd's holdings in Fortive were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Union Bancaire Privee UBP SA boosted its holdings in shares of Fortive by 21.1% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 13,416 shares of the technology company's stock valued at $699,000 after acquiring an additional 2,338 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Fortive by 114.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 26,506 shares of the technology company's stock valued at $1,382,000 after acquiring an additional 14,120 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in Fortive by 2.8% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 22,050 shares of the technology company's stock worth $1,149,000 after buying an additional 607 shares during the period. V Square Quantitative Management LLC lifted its holdings in Fortive by 8.2% during the 2nd quarter. V Square Quantitative Management LLC now owns 10,096 shares of the technology company's stock worth $526,000 after buying an additional 763 shares during the period. Finally, GraniteShares Advisors LLC lifted its holdings in Fortive by 10.3% during the 2nd quarter. GraniteShares Advisors LLC now owns 7,349 shares of the technology company's stock worth $383,000 after buying an additional 688 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

FTV has been the topic of several recent research reports. Morgan Stanley reaffirmed an "equal weight" rating and set a $50.00 target price (down from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Royal Bank Of Canada lowered their price objective on Fortive from $58.00 to $56.00 and set a "sector perform" rating for the company in a research report on Thursday, July 31st. Melius Research raised Fortive to a "hold" rating in a research report on Tuesday, July 22nd. Barclays set a $54.00 price objective on Fortive and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Finally, BNP Paribas reissued a "neutral" rating on shares of Fortive in a research report on Thursday, June 12th. Four research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Fortive has an average rating of "Hold" and a consensus target price of $62.79.

Fortive Stock Performance

Shares of FTV opened at $48.96 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The stock has a 50 day moving average price of $48.41 and a two-hundred day moving average price of $60.43. The firm has a market capitalization of $16.57 billion, a P/E ratio of 22.05, a P/E/G ratio of 3.10 and a beta of 1.10. 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 issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.02). Fortive had a return on equity of 11.96% and a net margin of 13.62%.The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The business's revenue for the quarter was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Equities analysts forecast 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 was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, September 12th. Fortive's payout ratio is presently 10.81%.

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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