Swedbank AB Purchases 8,156 Shares of Fortive Corporation $FTV

Key Points

• Swedbank AB increased its holdings in Fortive Corporation by 10.3%, owning 87,200 shares valued at $4.5 million after acquiring an additional 8,156 shares in Q2.
• Fortive Corporation reported Q2 earnings of $0.58 per share, missing estimates and showing a 0.4% year-over-year revenue decline with total revenue of $1.52 billion.
• Fortive has announced a quarterly dividend of $0.06 per share, representing a 0.5% yield and a dividend payout ratio of approximately 10.81%.

Swedbank AB increased its position in Fortive Corporation (NYSE:FTV - Free Report) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,200 shares of the technology company's stock after purchasing an additional 8,156 shares during the quarter. Swedbank AB's holdings in Fortive were worth $4,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in FTV. American National Bank & Trust bought a new stake in Fortive in the 1st quarter worth about $26,000. Accent Capital Management LLC purchased a new stake in shares of Fortive during the first quarter worth about $26,000. Global X Japan Co. Ltd. raised its position in shares of Fortive by 114.2% during the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock valued at $28,000 after buying an additional 201 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Fortive in the fourth quarter worth about $30,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company's stock valued at $37,000 after buying an additional 357 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTV. Morgan Stanley reissued an "equal weight" rating and issued a $50.00 price objective (down from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. Royal Bank Of Canada reduced their target price on Fortive from $58.00 to $56.00 and set a "sector perform" rating for the company in a research note on Thursday, July 31st. BNP Paribas reissued a "neutral" rating on shares of Fortive in a report on Thursday, June 12th. JPMorgan Chase & Co. cut their price objective on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Finally, Raymond James Financial decreased their price objective on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $62.79.

Fortive Price Performance

Shares of NYSE:FTV traded down $0.31 during trading hours on Monday, hitting $48.32. 2,731,814 shares of the company's stock traded hands, compared to its average volume of 3,815,547. The company's fifty day simple moving average is $48.76 and its two-hundred day simple moving average is $61.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 3.09 and a beta of 1.10. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32.

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

Fortive Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive's payout ratio is currently 10.81%.

Fortive announced that its board has initiated a share repurchase program on Tuesday, May 27th that allows the company to buyback 15,630,000 shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

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.