Mountain Pacific Investment Advisers LLC Sells 25,465 Shares of Fortive Corporation $FTV

Key Points

• Mountain Pacific Investment Advisers LLC has reduced its stake in Fortive Corporation by 10.6%, owning 213,779 shares worth approximately $11.14 million after selling 25,465 shares in the second quarter.
• Fortive recently reported earnings of $0.58 per share, missing analysts' estimates, and a revenue decline of 0.4% year-over-year, with revenue totaling $1.52 billion for the quarter.
• The company's dividend payout ratio is currently at 10.81%, following a recently declared quarterly dividend of $0.06 per share, representing an annual yield of 0.5%.

Mountain Pacific Investment Advisers LLC decreased its stake in shares of Fortive Corporation (NYSE:FTV - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 213,779 shares of the technology company's stock after selling 25,465 shares during the quarter. Mountain Pacific Investment Advisers LLC owned about 0.06% of Fortive worth $11,144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of FTV. Dodge & Cox raised its stake in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company's stock worth $1,602,669,000 after buying an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Fortive by 50.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company's stock worth $959,567,000 after purchasing an additional 4,382,242 shares during the period. Invesco Ltd. raised its position in shares of Fortive by 96.6% during the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company's stock worth $411,781,000 after purchasing an additional 2,764,432 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Fortive by 4,854.2% in the 1st quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company's stock worth $106,208,000 after purchasing an additional 1,422,030 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Fortive in the 1st quarter valued at $76,671,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. BNP Paribas restated a "neutral" rating on shares of Fortive in a report on Thursday, June 12th. Melius Research upgraded Fortive to a "hold" rating in a research note on Tuesday, July 22nd. Morgan Stanley reissued an "equal weight" rating and set a $50.00 price objective (down from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Finally, Melius lowered Fortive from a "buy" rating to a "hold" rating and set a $62.00 target price on the stock. in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Fortive presently has a consensus rating of "Hold" and an average price target of $62.79.

Fortive Trading Up 2.2%

Shares of Fortive stock opened at $50.08 on Thursday. The firm has a market cap of $16.94 billion, a PE ratio of 22.56, a P/E/G ratio of 3.11 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The stock has a fifty day moving average price of $48.39 and a 200-day moving average price of $60.36.

Fortive (NYSE:FTV - Get Free Report) last released its 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 company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm'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 research analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive's dividend payout ratio is currently 10.81%.

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.

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