Brooklyn Investment Group Increases Stock Position in Fortive Corporation $FTV

Brooklyn Investment Group raised its position in shares of Fortive Corporation (NYSE:FTV) by 82.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,708 shares of the technology company’s stock after buying an additional 1,225 shares during the period. Brooklyn Investment Group’s holdings in Fortive were worth $198,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FTV. Price T Rowe Associates Inc. MD boosted its position in Fortive by 164.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company’s stock valued at $654,763,000 after buying an additional 5,429,566 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Fortive by 9.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company’s stock valued at $3,221,036,000 after buying an additional 3,810,997 shares during the period. Invesco Ltd. boosted its position in Fortive by 96.6% during the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after buying an additional 2,764,432 shares during the period. Third Point LLC purchased a new stake in shares of Fortive in the 4th quarter worth about $142,500,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Fortive in the 4th quarter worth about $136,794,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial reaffirmed a “hold” rating and issued a $55.00 target price (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. BNP Paribas reaffirmed a “neutral” rating on shares of Fortive in a research report on Thursday, June 12th. Mizuho dropped their target price on shares of Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Melius cut shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research report on Tuesday, July 22nd. Finally, Raymond James Financial dropped their target price on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday, July 1st. Five research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, Fortive currently has an average rating of “Hold” and a consensus price target of $65.57.

Fortive Stock Down 0.2%

Shares of Fortive stock opened at $48.0740 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The company has a 50-day moving average of $55.00 and a 200 day moving average of $66.67. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.05 and a beta of 1.08. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32.

Fortive (NYSE:FTV) last issued 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). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, sell-side analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive announced that its board has authorized a share repurchase plan on Tuesday, May 27th that permits the company to buyback 15,630,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Fortive Company 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.