Kennebec Savings Bank Purchases 321 Shares of Fortive Corporation $FTV

Kennebec Savings Bank raised its position in Fortive Corporation (NYSE:FTV) by 7.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,864 shares of the technology company’s stock after buying an additional 321 shares during the period. Kennebec Savings Bank’s holdings in Fortive were worth $254,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Dodge & Cox raised its position in Fortive by 181.5% in the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after purchasing an additional 14,120,456 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Fortive by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after purchasing an additional 4,382,242 shares during the last quarter. Invesco Ltd. raised its position in Fortive by 96.6% in the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after purchasing an additional 2,764,432 shares during the last quarter. Select Equity Group L.P. raised its position in Fortive by 4.9% in the first quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock valued at $330,012,000 after purchasing an additional 212,025 shares during the last quarter. Finally, Northern Trust Corp raised its position in Fortive by 2.8% in the first quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock valued at $297,691,000 after purchasing an additional 109,307 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Trading Up 2.2%

NYSE FTV opened at $50.08 on Thursday. The business has a 50 day simple moving average of $48.39 and a 200 day simple moving average of $60.36. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The stock has a market capitalization of $16.94 billion, a P/E ratio of 22.56, a P/E/G ratio of 3.11 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 released its earnings results on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business earned $0.93 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Research analysts expect that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FTV. BNP Paribas reissued a “neutral” rating on shares of Fortive in a research note on Thursday, June 12th. Mizuho decreased their price target on Fortive from $85.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, July 16th. Wall Street Zen raised Fortive to a “hold” rating in a research note on Friday, September 5th. TD Cowen cut Fortive from a “buy” rating to a “hold” rating and decreased their price target for the company from $85.00 to $50.00 in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. decreased their price target on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. Four analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Fortive has a consensus rating of “Hold” and an average 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.