Empirical Financial Services LLC d.b.a. Empirical Wealth Management Cuts Stake in Fortive Corporation $FTV

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its holdings in Fortive Corporation (NYSE:FTV) by 4.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,100 shares of the technology company’s stock after selling 406 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Fortive were worth $422,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new stake in Fortive during the first quarter valued at about $26,000. Global X Japan Co. Ltd. boosted its holdings in Fortive by 114.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. Capital Analysts LLC boosted its stake in shares of Fortive by 41.0% during 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 during the period. Finally, Banque Transatlantique SA boosted its stake in shares of Fortive by 92.8% during the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after purchasing an additional 270 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Up 1.3%

NYSE:FTV opened at $50.43 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The company has a 50-day moving average price of $48.35 and a 200-day moving average price of $59.82. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 3.20 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings data 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 company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Equities analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.06 dividend. 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 (DPR) is presently 10.81%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FTV shares. JPMorgan Chase & Co. dropped their price objective on Fortive from $87.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 2nd. BNP Paribas reissued a “neutral” rating on shares of Fortive in a research report on Thursday, June 12th. Raymond James Financial dropped their target price on shares of Fortive from $90.00 to $65.00 and set an “outperform” rating for the company in a report on Tuesday, July 1st. Wells Fargo & Company dropped their target price on shares of Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, July 1st. Finally, Truist Financial reiterated a “hold” rating and set a $55.00 target price (down from $60.00) on shares of Fortive in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average 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.