Hsbc Holdings PLC Has $68.65 Million Stock Holdings in Fortive Corporation $FTV

Key Points

• Hsbc Holdings PLC increased its stake in Fortive Corporation by 7.5%, owning 940,653 shares valued at approximately $68.65 million by the end of the most recent quarter.
• Wall Street analysts have adjusted their ratings and price targets for Fortive, with a consensus price target now at $65.57 and five analysts rating it as a Buy.
• Fortive's recent earnings report revealed a missed EPS estimate, reporting $0.58 compared to the expected $0.60, along with a revenue drop of 0.4% year-over-year.

Hsbc Holdings PLC raised its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 940,653 shares of the technology company's stock after acquiring an additional 65,872 shares during the quarter. Hsbc Holdings PLC owned about 0.28% of Fortive worth $68,650,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new stake in Fortive in the fourth quarter valued at approximately $26,000. American National Bank & Trust acquired a new stake in Fortive in the first quarter valued at approximately $26,000. Accent Capital Management LLC acquired a new stake in Fortive in the first quarter valued at approximately $26,000. Global X Japan Co. Ltd. raised its position in shares of Fortive by 114.2% in the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock valued at $28,000 after purchasing an additional 201 shares during the period. Finally, Park Square Financial Group LLC bought a new position in shares of Fortive in the fourth quarter valued at approximately $30,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FTV. Raymond James Financial dropped their price target on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 1st. Wall Street Zen raised shares of Fortive to a "hold" rating in a research report on Saturday, July 5th. Robert W. Baird dropped their price target on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Barclays set a $54.00 price target on shares of Fortive and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Finally, BNP Paribas reissued a "neutral" rating on shares of Fortive in a research report on Thursday, June 12th. Five research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, Fortive presently has an average rating of "Hold" and a consensus price target of $65.57.

Fortive Trading Down 0.8%

Shares of FTV stock opened at $47.6750 on Friday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The firm's fifty day simple moving average is $54.54 and its 200 day simple moving average is $66.45. The firm has a market capitalization of $16.13 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 3.04 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 (NYSE:FTV - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.02). Fortive had a return on equity of 11.96% and a net margin of 13.62%.The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm posted $0.93 EPS. The company'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, sell-side analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 27th that allows the company to repurchase 15,630,000 outstanding shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

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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