ASR Vermogensbeheer N.V. Trims Stock Holdings in Fortive Corporation $FTV

ASR Vermogensbeheer N.V. reduced its position in Fortive Corporation (NYSE:FTV) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 54,409 shares of the technology company’s stock after selling 1,404 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in Fortive were worth $2,836,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Accent Capital Management LLC acquired a new position in Fortive in the 1st quarter valued at about $26,000. Global X Japan Co. Ltd. grew its position in Fortive by 114.2% in the 1st quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares in the last quarter. Capital Analysts LLC grew its position in Fortive by 41.0% in the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after acquiring an additional 152 shares in the last quarter. Finally, Banque Transatlantique SA grew its position in Fortive by 92.8% in the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after acquiring an additional 270 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on FTV shares. TD Cowen downgraded Fortive from a “buy” rating to a “hold” rating and dropped their target price for the company from $85.00 to $50.00 in a research report on Tuesday, July 15th. Morgan Stanley reissued an “equal weight” rating and set a $50.00 price objective (down from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. Barclays set a $54.00 price objective on Fortive and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Wall Street Zen raised Fortive to a “hold” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.79.

Fortive Price Performance

FTV stock opened at $50.43 on Friday. The business has a 50 day moving average price of $48.35 and a 200 day moving average price of $60.03. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 3.16 and a beta of 1.15. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). The business 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%.Fortive’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Equities research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, September 12th. This represents a $0.24 annualized dividend 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.