Strs Ohio Makes New Investment in Fortive Corporation $FTV

Strs Ohio bought a new position in Fortive Corporation (NYSE:FTV) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 219,431 shares of the technology company’s stock, valued at approximately $16,058,000. Strs Ohio owned about 0.06% of Fortive as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. American National Bank & Trust bought a new position in Fortive during the first quarter valued at approximately $26,000. Accent Capital Management LLC bought a new position in Fortive in the first quarter worth approximately $26,000. Global X Japan Co. Ltd. raised its position in Fortive by 114.2% in the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company’s stock worth $28,000 after acquiring an additional 201 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of Fortive in the fourth quarter worth $30,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after purchasing an additional 357 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FTV has been the subject of a number of analyst reports. Melius cut shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Tuesday, July 22nd. Raymond James Financial reduced their price objective on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, July 1st. Mizuho reduced their price objective on shares of Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. Melius Research raised shares of Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Finally, BNP Paribas reissued a “neutral” rating on shares of Fortive in a research note on Thursday, June 12th. Four research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Fortive has a consensus rating of “Hold” and an average price target of $62.79.

Fortive Stock Performance

FTV opened at $48.88 on Friday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 3.15 and a beta of 1.10. The company has a fifty day moving average of $49.19 and a 200 day moving average of $62.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, sell-side 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 repurchase program on Tuesday, May 27th that allows the company to repurchase 15,630,000 shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Fortive Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 of this dividend is Friday, September 12th. Fortive’s dividend payout ratio (DPR) is presently 14.41%.

Fortive 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.