Fortive Corporation $FTV Shares Acquired by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lifted its stake in shares of Fortive Corporation (NYSE:FTV) by 13.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,195 shares of the technology company’s stock after purchasing an additional 509 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Fortive were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FTV. Accent Capital Management LLC acquired a new stake in shares of Fortive during the first quarter worth $26,000. Global X Japan Co. Ltd. lifted its stake in shares of Fortive by 114.2% during the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the period. Capital Analysts LLC lifted its stake in shares of Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after buying an additional 152 shares during the period. Finally, Banque Transatlantique SA lifted its stake in shares of Fortive by 92.8% during the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after buying an additional 270 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Raymond James Financial decreased 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. Truist Financial restated a “hold” rating and set a $55.00 target price (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. BNP Paribas restated a “neutral” rating on shares of Fortive in a research report on Thursday, June 12th. Finally, Cowen downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.79.

Fortive Stock Down 0.8%

FTV opened at $49.64 on Wednesday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. 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 company has a fifty day moving average of $48.30 and a two-hundred day moving average of $59.57. The stock has a market capitalization of $16.80 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.17 and a beta of 1.15.

Fortive (NYSE:FTV) last released its quarterly earnings data 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). Fortive had a net margin of 13.62% and a return on equity of 11.96%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $0.93 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, research analysts expect that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s payout ratio is presently 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.