Y Intercept Hong Kong Ltd Grows Position in Fortive Corporation $FTV

Y Intercept Hong Kong Ltd grew its position in shares of Fortive Corporation (NYSE:FTV) by 96.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 73,423 shares of the technology company’s stock after buying an additional 36,037 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Fortive were worth $3,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in FTV. True Wealth Design LLC raised its position in shares of Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after acquiring an additional 424 shares during the period. Quent Capital LLC acquired a new position in Fortive in the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC boosted its position in Fortive by 46.7% during the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock worth $36,000 after purchasing an additional 236 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares during the period. Finally, J.Safra Asset Management Corp raised its stake in shares of Fortive by 71.1% during the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock worth $38,000 after buying an additional 325 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. Morgan Stanley raised their price target on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Truist Financial reaffirmed a “hold” rating and issued a $58.00 target price (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Barclays lifted their price target on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Robert W. Baird boosted their price objective on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Finally, Citigroup boosted their target price on Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average price target of $57.77.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.

Fortive Trading Up 0.3%

Shares of NYSE:FTV opened at $54.76 on Tuesday. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a market cap of $17.39 billion, a PE ratio of 31.29, a P/E/G ratio of 3.06 and a beta of 1.13. The company’s 50 day moving average is $54.31 and its two-hundred day moving average is $51.03.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. Equities analysts predict that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, November 28th. Fortive’s dividend payout ratio (DPR) is presently 13.71%.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.