Dimensional Fund Advisors LP Has $205.23 Million Holdings in Fortive Corporation $FTV

Key Points

• Dimensional Fund Advisors LP increased its stake in Fortive Corporation by 0.6%, holding approximately 2.8 million shares valued at $205 million as of the latest SEC filing.
• Fortive recently reported an EPS of $0.58, missing analyst estimates, alongside a quarterly revenue decline of 0.4% year-over-year.
• Analysts have set a consensus rating of "Hold" on Fortive, with an average price target of $65.57, reflecting a mix of buy and hold ratings from various research firms.

Dimensional Fund Advisors LP lifted its stake in shares of Fortive Corporation (NYSE:FTV - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,804,838 shares of the technology company's stock after acquiring an additional 16,243 shares during the quarter. Dimensional Fund Advisors LP owned 0.83% of Fortive worth $205,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FTV. Parvin Asset Management LLC bought a new position in Fortive during the fourth quarter valued at about $26,000. American National Bank & Trust bought a new position in Fortive during the first quarter valued at about $26,000. Accent Capital Management LLC bought a new position in Fortive during the first quarter valued at about $26,000. Global X Japan Co. Ltd. increased its stake in shares of Fortive by 114.2% in 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. Finally, Park Square Financial Group LLC bought a new position in shares of Fortive in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price objective on Fortive from $58.00 to $56.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 31st. Melius Research upgraded Fortive to a "hold" rating in a research note on Tuesday, July 22nd. Barclays set a $54.00 price objective on Fortive and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Melius lowered Fortive from a "buy" rating to a "hold" rating and set a $62.00 price objective on the stock. in a research note on Tuesday, July 22nd. Finally, Truist Financial reiterated a "hold" rating and issued a $55.00 price objective (down from $60.00) on shares of Fortive in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Fortive has a consensus rating of "Hold" and an average target price of $65.57.

Fortive Price Performance

NYSE FTV traded up $1.5150 during trading on Friday, reaching $49.2750. 3,749,728 shares of the company traded hands, compared to its average volume of 4,986,282. 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's 50 day moving average price is $54.14 and its two-hundred day moving average price is $66.24. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 3.03 and a beta of 1.08. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.52 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 27th that allows the company to repurchase 15,630,000 outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

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.