Dodge & Cox Has $1.60 Billion Stock Holdings in Fortive Corporation $FTV

Key Points

• Dodge & Cox significantly increased its holdings in Fortive Corporation by 181.5%, owning 21,900,363 shares valued at approximately $1.6 billion as of the end of the most recent reporting period.
• Institutional investors own 94.94% of Fortive's stock, indicating strong confidence among major shareholders.
• Fortive Corporation's stock received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $65.57.

Dodge & Cox lifted its position in Fortive Corporation (NYSE:FTV - Free Report) by 181.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 21,900,363 shares of the technology company's stock after purchasing an additional 14,120,456 shares during the quarter. Dodge & Cox owned 6.44% of Fortive worth $1,602,669,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company's stock worth $959,567,000 after purchasing an additional 4,382,242 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company's stock worth $411,781,000 after purchasing an additional 2,764,432 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of Fortive by 20.1% in the 4th quarter. Select Equity Group L.P. now owns 4,297,573 shares of the technology company's stock worth $322,318,000 after purchasing an additional 720,250 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Fortive by 2.8% in the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company's stock worth $297,691,000 after purchasing an additional 109,307 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Fortive by 6.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,653,071 shares of the technology company's stock worth $273,980,000 after purchasing an additional 208,866 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

FTV has been the topic of several analyst reports. Royal Bank Of Canada lowered their target price on shares of 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 raised shares of Fortive to a "hold" rating in a report on Tuesday, July 22nd. Barclays set a $54.00 price objective on shares of Fortive and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Melius lowered shares of Fortive from a "buy" rating to a "hold" rating and set a $62.00 price objective on the stock. in a report on Tuesday, July 22nd. Finally, Raymond James Financial decreased their price objective on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Fortive presently has a consensus rating of "Hold" and an average price target of $65.57.

Fortive Stock Up 3.2%

Shares of NYSE FTV opened at $49.2750 on Friday. The firm has a market capitalization of $16.67 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 3.03 and a beta of 1.08. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The firm's 50-day moving average is $54.14 and its 200-day moving average is $66.24.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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% compared to the same quarter last year. 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. Equities analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

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