Paradoxiom Capital L.P. Invests $4.51 Million in Fortive Corporation $FTV

Key Points

• Paradoxiom Capital L.P. acquired 61,671 shares of Fortive Corporation valued at approximately $4.5 million, making it the firm's 11th largest holding.
• Several hedge funds, including Dodge & Cox and Invesco Ltd., significantly increased their stakes in Fortive during the first quarter, showing growing institutional interest.
• Fortive's recent earnings report revealed a missed EPS estimate, with a quarterly revenue of $1.52 billion, and the company has continued a share buyback plan amidst a dividend cut.

Paradoxiom Capital L.P. bought a new stake in Fortive Corporation (NYSE:FTV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 61,671 shares of the technology company's stock, valued at approximately $4,513,000. Fortive makes up about 2.9% of Paradoxiom Capital L.P.'s investment portfolio, making the stock its 11th biggest position.

Other institutional investors have also recently made changes to their positions in the company. American National Bank & Trust bought a new stake in shares of Fortive during the 1st quarter worth $26,000. Accent Capital Management LLC purchased a new stake in Fortive during the first quarter valued at about $26,000. Global X Japan Co. Ltd. lifted its stake in Fortive by 114.2% during the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock worth $28,000 after purchasing an additional 201 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Fortive during the fourth quarter worth about $30,000. Finally, Capital Analysts LLC boosted its holdings in shares of Fortive by 41.0% in the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company's stock worth $38,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Fortive Trading Up 0.1%

Fortive stock traded up $0.04 during trading hours on Wednesday, reaching $47.75. The stock had a trading volume of 4,051,433 shares, compared to its average volume of 3,750,542. The company has a fifty day simple moving average of $49.45 and a 200-day simple moving average of $63.40. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The stock has a market cap of $16.15 billion, a PE ratio of 13.36, a PEG ratio of 3.03 and a beta of 1.10. 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 (NYSE:FTV - Get Free Report) last posted 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). The firm had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued 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 is Friday, September 12th. Fortive's dividend payout ratio is currently 14.41%.

Fortive declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 27th that authorizes the company to buyback 15,630,000 outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Fortive from $87.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Melius Research raised shares of Fortive to a "hold" rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Fortive to a "hold" rating in a research note on Friday, September 5th. Morgan Stanley reaffirmed an "equal weight" rating and set a $50.00 target price (down previously from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Finally, BNP Paribas reissued a "neutral" rating on shares of Fortive in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.