Fortive Co. (NYSE:FTV) Shares Acquired by Xponance Inc.

Posted by on Jul 1st, 2023

Xponance Inc. increased its stake in Fortive Co. (NYSE:FTV – Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,140 shares of the technology company’s stock after acquiring an additional 1,045 shares during the period. Xponance Inc.’s holdings in Fortive were worth $3,009,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Gradient Investments LLC acquired a new stake in shares of Fortive in the fourth quarter worth approximately $26,000. Kistler Tiffany Companies LLC boosted its position in shares of Fortive by 317.0% in the fourth quarter. Kistler Tiffany Companies LLC now owns 417 shares of the technology company’s stock worth $27,000 after acquiring an additional 317 shares during the last quarter. OLD Mission Capital LLC acquired a new stake in shares of Fortive in the fourth quarter worth approximately $33,000. Belpointe Asset Management LLC acquired a new position in Fortive during the fourth quarter valued at approximately $36,000. Finally, General Partner Inc. acquired a new position in Fortive during the fourth quarter valued at approximately $39,000. 95.46% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Up 1.7 %

NYSE FTV opened at $74.77 on Friday. The company’s fifty day simple moving average is $67.33 and its 200-day simple moving average is $66.69. Fortive Co. has a 52 week low of $52.47 and a 52 week high of $74.87. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.21. The stock has a market cap of $26.30 billion, a P/E ratio of 34.94, a PEG ratio of 2.77 and a beta of 1.13.

Fortive (NYSE:FTV – Free Report) last posted its earnings results on Wednesday, April 26th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Fortive had a net margin of 12.92% and a return on equity of 11.92%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. Equities research analysts predict that Fortive Co. will post 3.35 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, May 26th were paid a $0.07 dividend. The ex-dividend date was Thursday, May 25th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. Fortive’s dividend payout ratio (DPR) is presently 13.08%.

Analyst Ratings Changes

A number of brokerages have weighed in on FTV. JPMorgan Chase & Co. lifted their price target on shares of Fortive from $77.00 to $78.00 in a research report on Thursday, April 27th. Royal Bank of Canada lifted their price target on shares of Fortive from $74.00 to $75.00 in a research report on Friday, May 26th. Wells Fargo & Company reduced their price target on shares of Fortive from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Vertical Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Monday, March 27th. Finally, StockNews.com assumed coverage on shares of Fortive in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Fortive Company Profile

(Free Report)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.

See Also

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Co. (NYSE:FTV – Free Report).

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.