Fortive Corporation $FTV Position Increased by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC lifted its position in Fortive Corporation (NYSE:FTV) by 10.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,470 shares of the technology company’s stock after buying an additional 1,225 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Fortive were worth $702,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Redmond Asset Management LLC raised its stake in Fortive by 1.0% during the 1st quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company’s stock valued at $1,062,000 after purchasing an additional 142 shares during the period. Capital Analysts LLC grew its holdings in shares of Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after buying an additional 152 shares in the last quarter. Tandem Capital Management Corp ADV raised its position in Fortive by 0.6% during the first quarter. Tandem Capital Management Corp ADV now owns 27,557 shares of the technology company’s stock valued at $2,017,000 after buying an additional 160 shares during the period. Forum Financial Management LP lifted its stake in Fortive by 2.3% in the 1st quarter. Forum Financial Management LP now owns 7,119 shares of the technology company’s stock worth $521,000 after acquiring an additional 161 shares in the last quarter. Finally, RDA Financial Network boosted its position in Fortive by 3.5% during the 1st quarter. RDA Financial Network now owns 4,965 shares of the technology company’s stock worth $363,000 after acquiring an additional 169 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 1.3%

FTV stock opened at $50.43 on Monday. The firm has a market cap of $17.06 billion, a PE ratio of 22.71, a PEG ratio of 3.20 and a beta of 1.15. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The company has a fifty day simple moving average of $48.35 and a 200 day simple moving average of $59.82. 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 (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 company had revenue of $1.52 billion for 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%. Fortive’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Sell-side analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.06 per share. 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 dividend payout ratio is presently 10.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. 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 report on Tuesday, September 2nd. TD Cowen downgraded shares of Fortive from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $50.00 in a research report on Tuesday, July 15th. Barclays set a $54.00 price target on shares of Fortive and gave the company an “equal weight” rating in a report on Thursday, August 14th. Melius lowered Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised Fortive to a “hold” rating in a research report on Friday, September 5th. Four research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.