Dogwood Wealth Management LLC Sells 2,640 Shares of Fortive Corporation $FTV

Dogwood Wealth Management LLC lessened its position in Fortive Corporation (NYSE:FTV) by 30.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,123 shares of the technology company’s stock after selling 2,640 shares during the period. Dogwood Wealth Management LLC’s holdings in Fortive were worth $323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Dodge & Cox raised its holdings in 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 last quarter. Price T Rowe Associates Inc. MD grew its position in Fortive by 50.2% during 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. boosted its position in Fortive by 96.6% during the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after purchasing an additional 2,764,432 shares during the period. Pacer Advisors Inc. boosted its position in shares of 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 acquiring an additional 1,422,030 shares during the period. Finally, Nuveen LLC bought a new position in shares of Fortive in the first quarter valued at approximately $76,671,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of Fortive stock opened at $48.96 on Wednesday. The business has a 50-day moving average of $48.41 and a 200 day moving average of $60.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.10. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32.

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

Fortive Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio is presently 10.81%.

Analyst Ratings Changes

Several research analysts have commented on FTV shares. JPMorgan Chase & Co. decreased their price target 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. Mizuho reduced their price target on shares of Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, July 16th. Barclays set a $54.00 price objective on shares of Fortive and gave the company an “equal weight” rating in a report on Thursday, August 14th. Melius lowered shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Tuesday, July 22nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $50.00 target price (down from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.79.

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.