Trust Co. of Vermont Buys 302 Shares of Fortive Corporation $FTV

Trust Co. of Vermont raised its stake in shares of Fortive Corporation (NYSE:FTV) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,608 shares of the technology company’s stock after purchasing an additional 302 shares during the quarter. Trust Co. of Vermont’s holdings in Fortive were worth $84,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Accent Capital Management LLC bought a new position in Fortive during the first quarter valued at about $26,000. Global X Japan Co. Ltd. increased its position in shares of Fortive by 114.2% during the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares in the last quarter. Capital Analysts LLC raised its stake in shares of Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after purchasing an additional 152 shares in the last quarter. Finally, Banque Transatlantique SA lifted its position in Fortive by 92.8% in the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 0.6%

FTV stock opened at $49.76 on Friday. The business has a fifty day moving average price of $48.37 and a 200 day moving average price of $60.19. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 3.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82.

Fortive (NYSE:FTV) last posted 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). Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $0.93 EPS. Fortive’s revenue for the quarter was down .4% compared to the same quarter last year. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Analysts expect 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 paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s payout ratio is currently 10.81%.

Analysts Set New Price Targets

FTV has been the topic of several analyst reports. Wall Street Zen raised shares of Fortive to a “hold” rating in a report on Friday, September 5th. BNP Paribas reissued a “neutral” rating on shares of Fortive in a research note on Thursday, June 12th. Mizuho cut their price target on shares of Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. Raymond James Financial lowered their price objective on Fortive from $90.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 1st. Finally, TD Cowen downgraded 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. Four analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Fortive currently has an average rating of “Hold” and a consensus target price of $62.79.

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.