Eurizon Capital SGR S.p.A. Invests $20.39 Million in Fortive Corporation $FTV

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Fortive, buying 369,194 shares worth about $20.39 million in the fourth quarter.
• Fortive has continued to attract institutional interest, with several large funds increasing holdings; overall, 94.94% of the stock is owned by institutional investors.
• The company posted better-than-expected quarterly earnings and revenue, while also authorizing a 20 million-share buyback, even as analysts maintain a consensus Hold rating with an average price target of $61.54.

Eurizon Capital SGR S.p.A. acquired a new position in Fortive Corporation (NYSE:FTV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 369,194 shares of the technology company's stock, valued at approximately $20,387,000. Eurizon Capital SGR S.p.A. owned about 0.12% of Fortive as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Dodge & Cox raised its holdings in Fortive by 28.4% during the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company's stock valued at $2,086,768,000 after buying an additional 9,422,189 shares during the last quarter. Viking Global Investors LP raised its holdings in Fortive by 28.7% during the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company's stock valued at $1,003,495,000 after buying an additional 4,571,056 shares during the last quarter. Geode Capital Management LLC raised its holdings in Fortive by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company's stock valued at $483,327,000 after buying an additional 116,939 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Fortive by 55.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company's stock valued at $426,699,000 after buying an additional 3,096,711 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Fortive by 7.1% during the 3rd quarter. Invesco Ltd. now owns 7,507,930 shares of the technology company's stock valued at $367,814,000 after buying an additional 497,714 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FTV has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Fortive in a report on Friday, May 22nd. Truist Financial reiterated a "hold" rating and set a $61.00 price target (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Zacks Research lowered shares of Fortive from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 21st. Morgan Stanley upped their price target on shares of Fortive from $53.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, March 18th. Finally, Argus upgraded shares of Fortive from a "hold" rating to a "buy" rating and set a $68.00 price target for the company in a report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $61.54.

Fortive Stock Down 1.7%

Shares of Fortive stock opened at $58.19 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. The company's fifty day simple moving average is $58.68 and its two-hundred day simple moving average is $56.40. The company has a market cap of $17.74 billion, a P/E ratio of 34.84, a PEG ratio of 3.13 and a beta of 1.09. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $73.77.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts anticipate that Fortive Corporation will post 2.96 EPS for the current year.

Fortive announced that its board has authorized a share buyback program on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the transaction, the senior vice president directly owned 87,780 shares of the company's stock, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

Fortive Profile

Fortive Corporation NYSE: FTV is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive's activities on higher‑margin instrumentation, software and services.

Fortive's operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.

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