Lecap Asset Management Ltd. Acquires Shares of 28,814 Fortive Corporation $FTV

Lecap Asset Management Ltd. acquired a new stake in Fortive Corporation (NYSE:FTV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,814 shares of the technology company’s stock, valued at approximately $1,502,000.

Other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox boosted its stake in shares of Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after acquiring an additional 14,120,456 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Fortive by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after acquiring an additional 4,382,242 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Fortive by 96.6% during the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after acquiring an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. boosted its stake in shares of Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after acquiring an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Fortive by 2.8% in the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock valued at $297,691,000 after buying an additional 109,307 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FTV. BNP Paribas reaffirmed a “neutral” rating on shares of Fortive in a research note on Thursday, June 12th. Melius Research raised Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Raymond James Financial reduced their target price on Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Cowen downgraded Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Finally, Melius cut Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.79.

Fortive Trading Up 2.2%

FTV stock opened at $50.08 on Thursday. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 3.11 and a beta of 1.15. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $48.39 and a 200-day simple moving average of $60.36. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, equities research analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, September 12th. Fortive’s dividend payout ratio is presently 10.81%.

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.