Level Four Advisory Services LLC Acquires 5,297 Shares of Fortive Corporation $FTV

Key Points

• Level Four Advisory Services LLC has increased its holdings in Fortive Corporation by 16.5%, now owning a total of 37,308 shares, valued at approximately $2.73 million.
• Fortive's stock has shown a 0.2% decrease, with shares trading around $48.07, while the company reported mixed quarterly earnings, missing EPS estimates by $0.02.
• Several analysts have adjusted their price targets for Fortive, with Wells Fargo lowering its target from $72.00 to $55.00, reflecting a cautious sentiment towards the stock.

Level Four Advisory Services LLC increased its stake in shares of Fortive Corporation (NYSE:FTV - Free Report) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,308 shares of the technology company's stock after purchasing an additional 5,297 shares during the period. Level Four Advisory Services LLC's holdings in Fortive were worth $2,730,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of Fortive by 9.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company's stock worth $3,221,036,000 after purchasing an additional 3,810,997 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Fortive by 164.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company's stock valued at $654,763,000 after acquiring an additional 5,429,566 shares during the period. Invesco Ltd. grew its stake in Fortive by 96.6% in the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company's stock valued at $411,781,000 after acquiring an additional 2,764,432 shares during the period. Select Equity Group L.P. grew its stake in Fortive by 20.1% in the fourth quarter. Select Equity Group L.P. now owns 4,297,573 shares of the technology company's stock valued at $322,318,000 after acquiring an additional 720,250 shares during the period. Finally, Northern Trust Corp grew its stake in Fortive by 2.8% in the first quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company's stock valued at $297,691,000 after acquiring an additional 109,307 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Down 0.3%

Shares of FTV stock traded down $0.14 on Tuesday, hitting $48.38. 1,106,338 shares of the stock were exchanged, compared to its average volume of 3,341,656. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm has a market capitalization of $16.37 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 3.12 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. The business has a 50-day moving average of $53.69 and a 200 day moving average of $65.84.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $0.93 EPS. The business's revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Equities analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive announced that its board has initiated a stock repurchase 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. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

FTV has been the subject of a number of research analyst reports. BNP Paribas reissued a "neutral" rating on shares of Fortive in a research note on Thursday, June 12th. Cowen cut Fortive from a "buy" rating to a "hold" rating in a research note on Tuesday, July 15th. Wall Street Zen raised Fortive to a "hold" rating in a research note on Saturday, July 5th. Raymond James Financial decreased their target price on Fortive from $90.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. Finally, Barclays set a $54.00 target price on Fortive and gave the company an "equal weight" rating in a research note on Thursday, August 14th. Five analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $65.57.

About Fortive

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.