Fortive Corporation $FTV Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its holdings in shares of Fortive Corporation (NYSE:FTV) by 2.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 21,075 shares of the technology company’s stock after purchasing an additional 439 shares during the quarter. QRG Capital Management Inc.’s holdings in Fortive were worth $1,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Dodge & Cox increased its holdings in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after purchasing an additional 14,120,456 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Fortive by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after purchasing an additional 4,382,242 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after acquiring 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% in the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock valued at $330,012,000 after acquiring an additional 212,025 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Fortive by 2.8% in the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock valued at $297,691,000 after acquiring an additional 109,307 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FTV shares. Barclays set a $54.00 price target on Fortive and gave the company an “equal weight” rating in a report on Thursday, August 14th. Wall Street Zen upgraded Fortive to a “hold” rating in a report on Friday, September 5th. Royal Bank Of Canada lowered their price target on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a report on Thursday, July 31st. Weiss Ratings downgraded Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Morgan Stanley restated an “equal weight” rating and set a $50.00 price objective (down from $90.00) on shares of Fortive in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.79.

Fortive Trading Up 0.5%

NYSE:FTV opened at $49.88 on Thursday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 3.15 and a beta of 1.15. The business has a fifty day moving average of $48.30 and a 200-day moving average of $59.51. 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 released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $0.93 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Equities analysts predict that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is currently 10.81%.

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.