Fortive Corporation $FTV Position Trimmed by ST Germain D J Co. Inc.

Key Points

• ST Germain D J Co. Inc. dramatically reduced its holdings in Fortive Corporation by 99.4%, selling 249,144 shares and retaining only 1,531 shares worth $80,000.
• Fortive reported a loss in quarterly earnings of $0.02 per share, missing analysts' estimates, with a revenue decline of 0.4% year-over-year.
• Analysts have revised their price targets for Fortive, with several firms lowering their ratings; the consensus price target now stands at $62.79.

ST Germain D J Co. Inc. decreased its holdings in shares of Fortive Corporation (NYSE:FTV - Free Report) by 99.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,531 shares of the technology company's stock after selling 249,144 shares during the period. ST Germain D J Co. Inc.'s holdings in Fortive were worth $80,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FTV. CX Institutional grew its position in shares of Fortive by 31.2% during the second quarter. CX Institutional now owns 3,397 shares of the technology company's stock worth $177,000 after acquiring an additional 808 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Fortive by 4.9% during the second quarter. TD Private Client Wealth LLC now owns 18,021 shares of the technology company's stock worth $939,000 after acquiring an additional 840 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Fortive by 111.8% during the second quarter. GAMMA Investing LLC now owns 3,795 shares of the technology company's stock worth $198,000 after acquiring an additional 2,003 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Fortive by 18.0% during the second quarter. Park Avenue Securities LLC now owns 17,599 shares of the technology company's stock worth $917,000 after acquiring an additional 2,685 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA grew its position in shares of Fortive by 3.6% during the second quarter. Marshall & Sullivan Inc. WA now owns 62,061 shares of the technology company's stock worth $3,235,000 after acquiring an additional 2,156 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Fortive Price Performance

Shares of NYSE FTV opened at $48.53 on Monday. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32. 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 company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 3.08 and a beta of 1.10. The firm has a 50-day moving average of $48.48 and a two-hundred day moving average of $60.69.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results 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). Fortive had a net margin of 13.62% and a return on equity of 11.96%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company posted $0.93 earnings per share. Fortive's revenue was down .4% compared to the same quarter last year. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, analysts expect that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive's dividend payout ratio is presently 10.81%.

Wall Street Analysts Forecast Growth

FTV has been the subject of several recent research reports. Truist Financial restated a "hold" rating and set a $55.00 price target (down previously from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Morgan Stanley restated an "equal weight" rating and set a $50.00 price target (down previously from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. Cowen lowered shares of Fortive from a "buy" rating to a "hold" rating in a research report on Tuesday, July 15th. Melius Research upgraded shares of Fortive to a "hold" rating in a research report on Tuesday, July 22nd. Finally, Raymond James Financial decreased their target price on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $62.79.

Fortive Company 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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