Scientech Research LLC Takes $644,000 Position in Fortive Corporation $FTV

Key Points

• Scientech Research LLC acquired a new stake in Fortive Corporation, purchasing 8,797 shares valued at approximately $644,000 during the first quarter.
• Fortive recently cut its dividend, declaring a quarterly dividend of $0.06, which brings its annualized yield to 0.5% with a payout ratio of 14.41%.
• Wall Street analysts largely hold a consensus rating of "Hold" on Fortive's stock, with an average price target of $62.79.

Scientech Research LLC acquired a new stake in Fortive Corporation (NYSE:FTV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,797 shares of the technology company's stock, valued at approximately $644,000.

Several other large investors also recently modified their holdings of the stock. American National Bank & Trust acquired a new position in shares of Fortive in the first quarter valued at about $26,000. Accent Capital Management LLC acquired a new position in shares of Fortive in the first quarter valued at about $26,000. Global X Japan Co. Ltd. grew 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. Park Square Financial Group LLC acquired a new position in shares of Fortive in the fourth quarter valued at about $30,000. Finally, Capital Analysts LLC grew 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. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FTV. Barclays set a $54.00 price target on shares of Fortive and gave the company an "equal weight" rating in a research note on Thursday, August 14th. TD Cowen downgraded shares of Fortive from a "buy" rating to a "hold" rating and decreased their price target for the company from $85.00 to $50.00 in a research note on Tuesday, July 15th. Cowen lowered Fortive from a "buy" rating to a "hold" rating in a report on Tuesday, July 15th. Wall Street Zen raised Fortive to a "hold" rating in a report on Friday. 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 equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $62.79.

Fortive Stock Up 0.2%

Shares of NYSE FTV opened at $47.94 on Tuesday. 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 company has a market cap of $16.22 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 3.04 and a beta of 1.10. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The stock has a 50-day moving average price of $49.56 and a two-hundred day moving average price of $63.51.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The firm's revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 EPS. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive declared that its Board of Directors has approved a share buyback plan on Tuesday, May 27th that permits the company to repurchase 15,630,000 shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Fortive Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.06 dividend. 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 presently 14.41%.

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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