Y Intercept Hong Kong Ltd Purchases 36,037 Shares of Fortive Corporation $FTV

Y Intercept Hong Kong Ltd raised its holdings in shares of Fortive Corporation (NYSE:FTV) by 96.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 73,423 shares of the technology company’s stock after purchasing an additional 36,037 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Fortive were worth $3,597,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FTV. Brighton Jones LLC lifted its holdings in Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after buying an additional 2,811 shares during the period. Empowered Funds LLC boosted its position in Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after purchasing an additional 430 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Fortive by 246.2% during 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. Wealth Enhancement Advisory Services LLC raised its holdings in Fortive by 18.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 43,278 shares of the technology company’s stock worth $2,296,000 after purchasing an additional 6,753 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Fortive by 111.8% in the second quarter. GAMMA Investing LLC now owns 3,795 shares of the technology company’s stock worth $198,000 after purchasing an additional 2,003 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research report on Monday, December 29th. Barclays raised their target price on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Citigroup upped their price target on Fortive from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, December 8th. Wells Fargo & Company raised their price objective on Fortive from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Monday, December 22nd. Finally, Mizuho reaffirmed an “underperform” rating and set a $51.00 target price (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.77.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.92% of the stock is owned by corporate insiders.

Fortive Stock Up 0.3%

Fortive stock opened at $54.76 on Tuesday. The business’s 50-day simple moving average is $54.31 and its two-hundred day simple moving average is $51.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The company has a market cap of $17.39 billion, a PE ratio of 31.29, a PEG ratio of 3.06 and a beta of 1.13. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 29th. The technology company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. Equities analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, November 28th. Fortive’s dividend payout ratio (DPR) is 13.71%.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.