Fortive Corporation $FTV Shares Sold by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC significantly reduced its stake in Fortive Corporation by 33.0%, holding 10,090 shares valued at $526,000 after selling 4,977 shares.
• Fortive's quarterly earnings reported an EPS of $0.58, missing the consensus estimate by $0.02, which has led to analysts adjusting their ratings and target prices downwards.
• The company's dividend yield stands at 0.5%, with a recent payment of $0.06 per share, marking a payout ratio of 10.81%.

HB Wealth Management LLC lowered its position in shares of Fortive Corporation (NYSE:FTV - Free Report) by 33.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,090 shares of the technology company's stock after selling 4,977 shares during the period. HB Wealth Management LLC's holdings in Fortive were worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC acquired a new stake in shares of Fortive during the 1st quarter worth approximately $26,000. Global X Japan Co. Ltd. increased its holdings in shares of Fortive by 114.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock worth $28,000 after buying an additional 201 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company's stock worth $37,000 after buying an additional 357 shares during the last quarter. Capital Analysts LLC increased its holdings in shares of 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 last quarter. Finally, Banque Transatlantique SA increased its holdings in shares of Fortive by 92.8% during the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company's stock worth $38,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BNP Paribas reiterated a "neutral" rating on shares of Fortive in a report on Thursday, June 12th. Royal Bank Of Canada dropped their target price on shares of Fortive from $58.00 to $56.00 and set a "sector perform" rating for the company in a report on Thursday, July 31st. Truist Financial reiterated a "hold" rating and issued a $55.00 target price (down previously from $60.00) on shares of Fortive in a report on Thursday, July 31st. Cowen downgraded shares of Fortive from a "buy" rating to a "hold" rating in a report on Tuesday, July 15th. Finally, Barclays set a $54.00 target price on shares of Fortive and gave the company an "equal weight" rating in a report on Thursday, August 14th. Four research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $62.79.

Fortive Stock Performance

Shares of FTV stock opened at $50.43 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The stock has a market capitalization of $17.06 billion, a PE ratio of 22.71, a P/E/G ratio of 3.20 and a beta of 1.15. The firm has a 50 day moving average of $48.35 and a two-hundred day moving average of $59.92.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly 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). 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 analysts' expectations of $1.54 billion. During the same period in the prior year, the business earned $0.93 EPS. The business's quarterly revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, research analysts predict that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive's payout ratio is 10.81%.

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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