MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $175.66 Million Position in Fortive Corporation $FTV

by · The Cerbat Gem

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its position in shares of Fortive Corporation (NYSE:FTV – Free Report) by 4.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,400,839 shares of the technology company’s stock after selling 118,891 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Fortive were worth $175,658,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FTV. Dodge & Cox increased its position in shares of Fortive by 181.5% during the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after buying an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Fortive by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after buying an additional 4,382,242 shares during the period. Invesco Ltd. lifted its stake in Fortive by 96.6% in the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after buying an additional 2,764,432 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Fortive in the fourth quarter valued at approximately $136,794,000. Finally, Pacer Advisors Inc. lifted its stake in Fortive by 4,854.2% in the first quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company’s stock valued at $106,208,000 after buying an additional 1,422,030 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of NYSE FTV opened at $47.58 on Friday. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 2.99 and a beta of 1.10. The stock has a fifty day simple moving average of $50.12 and a two-hundred day simple moving average of $64.23. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32.

Fortive (NYSE:FTV – Get Free Report) last issued its earnings results 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 firm 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%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

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

Fortive Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, September 12th. Fortive’s dividend payout ratio is 14.41%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $50.00 price target (down from $90.00) on shares of Fortive in a research note on Tuesday. BNP Paribas restated a “neutral” rating on shares of Fortive in a research note on Thursday, June 12th. Royal Bank Of Canada reduced their target price on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a research note on Thursday, July 31st. Wells Fargo & Company lowered their price objective on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 1st. Finally, TD Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $85.00 to $50.00 in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.79.

Check Out Our Latest Report on Fortive

Fortive Profile

(Free Report)

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.

See Also

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