Brown Shipley& Co Ltd Cuts Position in Fortive Corporation $FTV

Brown Shipley& Co Ltd lessened its holdings in Fortive Corporation (NYSE:FTV) by 67.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,232 shares of the technology company’s stock after selling 33,445 shares during the period. Fortive makes up approximately 0.5% of Brown Shipley& Co Ltd’s portfolio, making the stock its 27th biggest holding. Brown Shipley& Co Ltd’s holdings in Fortive were worth $846,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Union Bancaire Privee UBP SA lifted its stake in Fortive by 21.1% in the second quarter. Union Bancaire Privee UBP SA now owns 13,416 shares of the technology company’s stock valued at $699,000 after purchasing an additional 2,338 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Fortive by 114.0% in the second quarter. Janney Montgomery Scott LLC now owns 26,506 shares of the technology company’s stock valued at $1,382,000 after purchasing an additional 14,120 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Fortive by 2.8% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 22,050 shares of the technology company’s stock valued at $1,149,000 after purchasing an additional 607 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Fortive by 8.2% in the second quarter. V Square Quantitative Management LLC now owns 10,096 shares of the technology company’s stock valued at $526,000 after purchasing an additional 763 shares during the last quarter. Finally, GraniteShares Advisors LLC lifted its stake in Fortive by 10.3% in the second quarter. GraniteShares Advisors LLC now owns 7,349 shares of the technology company’s stock valued at $383,000 after purchasing an additional 688 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FTV shares. Royal Bank Of Canada lowered their target price on shares of Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a report on Thursday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $87.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. BNP Paribas reissued a “neutral” rating on shares of Fortive in a report on Thursday, June 12th. Cowen cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Fortive to a “hold” rating in a report on Friday, September 5th. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Hold” and a consensus price target of $62.79.

Fortive Trading Up 0.1%

Fortive stock opened at $48.96 on Wednesday. The stock has a market cap of $16.57 billion, a P/E ratio of 22.05, a PEG ratio of 3.10 and a beta of 1.10. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm’s fifty day moving average price is $48.41 and its 200-day moving average price is $60.43. 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 earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Equities research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal 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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Fortive’s dividend payout ratio is currently 10.81%.

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.