Northern Trust Corp Raises Position in Fortive Corporation $FTV

Northern Trust Corp increased its position in shares of Fortive Corporation (NYSE:FTV) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,067,929 shares of the technology company’s stock after purchasing an additional 109,307 shares during the period. Northern Trust Corp owned approximately 1.20% of Fortive worth $297,691,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in Fortive by 9.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company’s stock worth $3,221,036,000 after purchasing an additional 3,810,997 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Fortive by 164.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company’s stock valued at $654,763,000 after buying an additional 5,429,566 shares in the last quarter. Invesco Ltd. grew its holdings 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 acquiring an additional 2,764,432 shares during the period. Select Equity Group L.P. raised its position in Fortive by 20.1% in the fourth quarter. Select Equity Group L.P. now owns 4,297,573 shares of the technology company’s stock worth $322,318,000 after acquiring an additional 720,250 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Fortive by 6.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,653,071 shares of the technology company’s stock valued at $273,980,000 after acquiring an additional 208,866 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Robert W. Baird lowered their price target on shares of Fortive from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research report on Saturday, July 5th. Melius Research raised shares of Fortive to a “hold” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. reduced their price target on shares of Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada lowered their price target on Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.57.

Fortive Trading Down 0.2%

Shares of FTV stock opened at $48.0740 on Thursday. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 3.05 and a beta of 1.08. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $55.00 and a 200 day moving average price of $66.67. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share (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%.Fortive’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 27th that allows the company to buyback 15,630,000 outstanding shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.