Focus Partners Wealth Has $11.96 Million Holdings in Fortive Corporation $FTV

Key Points

• Focus Partners Wealth has reduced its stake in Fortive Corporation by 3.3%, selling 5,545 shares in the first quarter, leaving them with 163,422 shares worth approximately $11.96 million.
• Analysts have significantly lowered their target prices for Fortive, with estimates ranging from $50.00 to $65.00, while maintaining ratings between "hold" and "overweight."
• Fortive has announced a quarterly dividend of $0.06 per share, which represents a 0.5% yield, and has also authorized a stock repurchase program for 15.63 million shares.

Focus Partners Wealth reduced its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,422 shares of the technology company's stock after selling 5,545 shares during the quarter. Focus Partners Wealth's holdings in Fortive were worth $11,959,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FTV. American National Bank & Trust bought a new position in shares of Fortive in the first quarter valued at $26,000. Accent Capital Management LLC acquired a new stake in shares of Fortive during the first quarter worth $26,000. Global X Japan Co. Ltd. raised its position in shares of Fortive by 114.2% during 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. Park Square Financial Group LLC acquired a new stake in shares of Fortive during the fourth quarter worth $30,000. Finally, Capital Analysts LLC raised its holdings in Fortive by 41.0% during the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company's stock worth $38,000 after buying an additional 152 shares during the period. Institutional investors own 94.94% of the company's stock.

Fortive Stock Up 1.9%

Fortive stock traded up $0.90 during mid-day trading on Thursday, hitting $48.93. 885,951 shares of the company's stock were exchanged, compared to its average volume of 3,381,466. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The stock has a market cap of $16.55 billion, a P/E ratio of 22.04, a P/E/G ratio of 3.09 and a beta of 1.10. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32. The stock has a 50 day moving average of $48.92 and a two-hundred day moving average of $62.23.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $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 fiscal year.

Fortive declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 27th that authorizes the company to buyback 15,630,000 outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Fortive Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 12th. Fortive's dividend payout ratio (DPR) is 10.81%.

Analysts Set New Price Targets

FTV has been the topic of several recent analyst reports. Zacks Research upgraded Fortive from a "strong sell" rating to a "hold" rating in a report on Monday. Royal Bank Of Canada reduced their price target on shares of Fortive from $58.00 to $56.00 and set a "sector perform" rating for the company in a research report on Thursday, July 31st. Truist Financial reiterated a "hold" rating and set a $55.00 price objective (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Melius Research raised shares of Fortive to a "hold" rating in a research note on Tuesday, July 22nd. Finally, Mizuho cut their target price on shares of Fortive from $85.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $62.79.

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.