Lecap Asset Management Ltd. Invests $1.50 Million in Fortive Corporation $FTV

Key Points

• Lecap Asset Management Ltd. has invested approximately $1.50 million in Fortive Corporation, acquiring 28,814 shares in the second quarter.
• Fortive's recent quarterly earnings of $0.58 per share fell short of analyst expectations, with revenue of $1.52 billion, which is a slight decline compared to the previous year.
• The company announced a quarterly dividend of $0.06 per share, reflecting an annualized yield of 0.5% and a dividend payout ratio of 10.81%.

Lecap Asset Management Ltd. purchased a new position in shares of Fortive Corporation (NYSE:FTV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,814 shares of the technology company's stock, valued at approximately $1,502,000.

Several other hedge funds and other institutional investors have also modified their holdings of FTV. Accent Capital Management LLC purchased a new position in shares of Fortive during the first quarter worth $26,000. Global X Japan Co. Ltd. raised its stake 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 acquiring an additional 201 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company's stock valued at $37,000 after acquiring an additional 357 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company's stock valued at $38,000 after acquiring an additional 152 shares in the last quarter. Finally, Banque Transatlantique SA raised its stake in shares of Fortive by 92.8% in the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company's stock valued at $38,000 after acquiring an additional 270 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

NYSE FTV opened at $50.08 on Thursday. 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 business's 50-day moving average price is $48.39 and its 200 day moving average price is $60.36. The firm has a market cap of $16.94 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.11 and a beta of 1.15.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly 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 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% compared to the same quarter last year. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, equities research analysts expect that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FTV shares. Wells Fargo & Company reduced their price objective on Fortive from $72.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 1st. Royal Bank Of Canada cut their price target on Fortive from $58.00 to $56.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 31st. Mizuho cut their price target on Fortive from $85.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut their price target on Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Finally, Wall Street Zen upgraded Fortive to a "hold" rating in a research note on Friday, September 5th. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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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