Level Four Advisory Services LLC Has $2.73 Million Stake in Fortive Corporation $FTV

Level Four Advisory Services LLC raised its holdings in Fortive Corporation (NYSE:FTV) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,308 shares of the technology company’s stock after acquiring an additional 5,297 shares during the period. Level Four Advisory Services LLC’s holdings in Fortive were worth $2,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTV. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fortive by 11.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock valued at $790,000 after purchasing an additional 1,076 shares in the last quarter. Drake & Associates LLC lifted its holdings in shares of Fortive by 28.7% in the first quarter. Drake & Associates LLC now owns 22,298 shares of the technology company’s stock valued at $1,632,000 after purchasing an additional 4,978 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Fortive by 13.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,343 shares of the technology company’s stock valued at $3,757,000 after purchasing an additional 5,963 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Fortive in the first quarter valued at about $3,542,000. Finally, Perpetual Ltd lifted its holdings in shares of Fortive by 60.0% in the first quarter. Perpetual Ltd now owns 239,735 shares of the technology company’s stock valued at $17,544,000 after purchasing an additional 89,891 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

FTV opened at $48.0740 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The business’s 50-day simple moving average is $55.00 and its 200 day simple moving average is $66.67. The firm has a market capitalization of $16.27 billion, a PE ratio of 21.65, a PEG ratio of 3.05 and a beta of 1.08. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32.

Fortive (NYSE:FTV) last released its quarterly earnings data 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 net margin of 13.62% and a return on equity of 11.96%. Fortive’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, sell-side analysts expect that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive announced that its board has initiated a stock repurchase plan on Tuesday, May 27th that allows the company to repurchase 15,630,000 outstanding shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. TD Cowen lowered Fortive from a “buy” rating to a “hold” rating and cut their price target for the company from $85.00 to $50.00 in a report on Tuesday, July 15th. Raymond James Financial cut their price target on Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, July 1st. Wells Fargo & Company cut their price target on Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 1st. Barclays set a $54.00 price target on Fortive and gave the company an “equal weight” rating in a report on Thursday, August 14th. Finally, Mizuho dropped their target price on Fortive from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.57.

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.