Fortive Corporation $FTV Stock Position Lessened by Korea Investment CORP

Korea Investment CORP decreased its holdings in Fortive Corporation (NYSE:FTV) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 278,677 shares of the technology company’s stock after selling 19,429 shares during the quarter. Korea Investment CORP’s holdings in Fortive were worth $20,394,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of FTV. Parvin Asset Management LLC bought a new position in shares of Fortive in the fourth quarter worth $26,000. American National Bank & Trust bought a new position in shares of Fortive in the first quarter worth $26,000. Accent Capital Management LLC bought a new position in shares of Fortive in the first quarter worth $26,000. Global X Japan Co. Ltd. grew its stake in shares of 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 purchasing an additional 201 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Fortive in the fourth quarter worth $30,000. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

FTV has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Wells Fargo & Company cut their price objective on Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, July 1st. Melius Research upgraded Fortive to a “hold” rating in a report on Tuesday, July 22nd. TD Cowen lowered Fortive from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $50.00 in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada cut their price objective on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.57.

Fortive Trading Down 0.2%

Shares of NYSE FTV opened at $48.0740 on Thursday. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 3.05 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $55.00 and a 200-day simple moving average of $66.67.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). Fortive had a net margin of 13.62% and a return on equity of 11.96%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Sell-side analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 27th that authorizes the company to buyback 15,630,000 shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.