UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $273.84 Million Holdings in Fortive Corporation $FTV

Key Points

• UBS Asset Management increased its stake in Fortive Corporation by 2.4% during the first quarter, owning 3,742,007 shares valued at approximately $273.84 million.
• Multiple institutional investors significantly boosted their holdings in Fortive, with Dodge & Cox leading the way with an increase of 181.5%, now owning 21.9 million shares worth about $1.6 billion.
• Fortive recently cut its dividend to $0.06 per share with a low annual yield of 0.5%, indicating a strategy to optimize cash flow amid changing market conditions.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Fortive Corporation (NYSE:FTV - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,742,007 shares of the technology company's stock after purchasing an additional 88,936 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.10% of Fortive worth $273,840,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Dodge & Cox boosted its position in shares of Fortive by 181.5% in the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company's stock valued at $1,602,669,000 after acquiring an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company's stock valued at $959,567,000 after purchasing an additional 4,382,242 shares during the period. Invesco Ltd. grew its position in Fortive by 96.6% in the 1st 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 last quarter. Select Equity Group L.P. increased its holdings in shares of Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company's stock worth $330,012,000 after purchasing an additional 212,025 shares during the period. Finally, Northern Trust Corp raised its position in shares of Fortive by 2.8% during the first quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company's stock valued at $297,691,000 after buying an additional 109,307 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Price Performance

Shares of Fortive stock traded down $0.23 during mid-day trading on Tuesday, reaching $48.33. 516,403 shares of the stock were exchanged, compared to its average volume of 3,373,466. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 3.10 and a beta of 1.10. The firm has a 50-day simple moving average of $49.10 and a 200 day simple moving average of $62.42. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.02). The firm had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. Fortive had a net margin of 13.62% and a return on equity of 11.96%. Fortive's quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, sell-side analysts predict 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. 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 yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th. Fortive's dividend payout ratio (DPR) is currently 10.81%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FTV shares. Wall Street Zen raised Fortive to a "hold" rating in a research report on Friday, September 5th. Barclays set a $54.00 price objective on Fortive and gave the company an "equal weight" rating in a research report on Thursday, August 14th. 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 report on Thursday, July 31st. Raymond James Financial lowered their price target 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. Finally, Melius downgraded shares of Fortive from a "buy" rating to a "hold" rating and set a $62.00 price objective for the company. in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Fortive has an average rating of "Hold" and a consensus target price of $62.79.

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.