United Services Automobile Association Takes $672,000 Position in Fortive Corporation $FTV

United Services Automobile Association purchased a new stake in Fortive Corporation (NYSE:FTV) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,253 shares of the technology company’s stock, valued at approximately $672,000.

Several other large investors have also modified their holdings of FTV. Brighton Jones LLC grew its position in shares of Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after purchasing an additional 2,811 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Fortive by 10.7% in the fourth quarter. Captrust Financial Advisors now owns 17,875 shares of the technology company’s stock valued at $1,341,000 after purchasing an additional 1,729 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Fortive by 3.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 195,544 shares of the technology company’s stock valued at $14,666,000 after purchasing an additional 5,762 shares during the last quarter. Focus Partners Wealth grew its position in shares of Fortive by 1,139.4% in the fourth quarter. Focus Partners Wealth now owns 168,967 shares of the technology company’s stock valued at $12,674,000 after purchasing an additional 155,334 shares during the last quarter. Finally, Gotham Asset Management LLC grew its position in shares of Fortive by 2.5% in the fourth quarter. Gotham Asset Management LLC now owns 16,603 shares of the technology company’s stock valued at $1,245,000 after purchasing an additional 408 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

NYSE:FTV opened at $47.68 on Wednesday. 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 company has a market cap of $16.13 billion, a P/E ratio of 21.48, a P/E/G ratio of 3.05 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 50 day moving average is $49.45 and its two-hundred day moving average is $63.40.

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

Fortive Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is currently 14.41%.

Fortive declared that its board has authorized a share buyback program on Tuesday, May 27th that authorizes the company to buyback 15,630,000 outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on FTV shares. Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $87.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Truist Financial reissued a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Fortive in a research note on Thursday, July 31st. Wells Fargo & Company reduced their price objective on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada reduced their price objective on shares of Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 31st. Four research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Fortive presently has an average rating of “Hold” and a consensus target price of $62.79.

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.