Aviva PLC, a prominent institutional investor, has increased its stake in Fortive Co. (NYSE:FTV) by 25.5% during the first quarter of this year. According to the company’s filing with the Securities & Exchange Commission, Aviva PLC now owns 443,208 shares of the technology company’s stock, representing a significant additional acquisition of 89,928 shares in just three months. As per the most recent SEC filing of Aviva PLC, its ownership of Fortive amounts to 0.13% and has a worth of $30,213,000.
Fortive disclosed its quarterly earnings results on Wednesday, July 26th. During this period, the company exceeded expectations by reporting earnings per share (EPS) of $0.85, surpassing the consensus estimate by $0.04. This positive performance can be attributed to Fortive’s net margin of 13.39% and return on equity (ROE) of 11.99%. The revenue generated during this quarter amounted to $1.53 billion – slightly higher than analysts’ anticipated figure of $1.51 billion.
Fortive demonstrated significant growth with a revenue increase of 4.3% compared to the same quarter in the previous year when it reported an EPS of $0.78. Analysts predict that for the current fiscal year, Fortive will post earnings per share totaling around 3.42.
The developments regarding Aviva PLC’s investment in Fortive Co., alongside Fortive’s strong financial performance for this quarter and possible future prospects according to analysts’ forecasts indicate promising potential for both companies moving forward.
For more detailed analysis on Fortives’s stock and market trends, readers are encouraged to refer to our latest published report on FTV stocks for comprehensive insights into this matter.
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Hedge Funds and Institutional Investors Make Moves on Fortive Holdings; Stock Trading at $79.28 per Share
Fortive, a technology company in the stock market, has recently seen modifications in its holdings by several hedge funds. In the 4th quarter, OLD Mission Capital LLC acquired a new position in Fortive shares with an estimated value of $33,000. Belpointe Asset Management LLC and Ridgewood Investments LLC also acquired new positions in Fortive during the same quarter, with values worth approximately $36,000 and $37,000 respectively. Oakworth Capital Inc. made their move during the 1st quarter by obtaining a new position valued at around $40,000. Covestor Ltd raised its position in Fortive by 34.7% during the 1st quarter as well. Covestor now owns 773 shares of Fortive’s stock with an estimated worth of $47,000 after adding an additional 199 shares to their portfolio during the last quarter. It is noteworthy that hedge funds and other institutional investors currently own about 95.95% of Fortive’s stock.
On Friday, September 2nd, shares of Fortive were trading at a price of $79.28 per share with a trading volume of 38,504 shares. When compared to its average volume of 1,991,759 shares, this trading volume appears relatively low. The firm’s 50-day moving average stands at $76.01 while its two-hundred day moving average is recorded at $69.85.The highest price for Fortive’s stock within the past year was $79.90 whereas the lowest was observed at $57.43.It is important to note that these figures are subject to change as they are based on historical data.
With regard to financial ratios and indicators,Fortive has a quick ratio of 0.74.This measures whether or not a company has enough short-term assets to cover its immediate liabilities.A current ratio of 0.96has also been recorded,A company’s current ratio measures its ability to pay short-term obligations or those due within one year.Meanwhile, the company’s Debt-to-Equity ratio stands at 0.20.This ratio indicates the portion of a company’s financing that comes from creditors. Fortive appears to have a relatively low level of debt.The market capitalization of Fortive is estimated to be $27.91 billion, indicating the overall value of the company in the stock market.Based on its P/E ratio (price-to-earnings), which is currently standing at 35.04, Fortive’s stock seems to be valued higher than most companies in the same sector.Hence, it may be considered as an expensive investment option.The price-to-earnings growth ratio (P/E-G) is calculated to be 2.86,a reflection of how much investors are willing to pay for each unit of future earnings growth.The P/E-G ratio assesses a stock’s valuation taking into account projected earnings growth over time.Additionally,the beta value for Fortive is reported as1.16.This reveals that the stock is likely to move in line with changes in the overall market.More technically speaking,the beta coefficient analyzes the degree of systematic risk associated with a specific stock.
Another important development for Fortive has been its announcement regarding a quarterly dividend.According to this announcement,stockholders who were recorded as such on Friday, September 1st will receive a $0.07 dividend.Such individuals will no longer qualify for this dividend if they buy or sell shares before Thursday, August 31st -the ex-dividend date.For clarification purposes,a dividend payout ratio (DPR) of 12.44% has been defined by Fortive regarding this dividend.DPR shows what proportion of earnings are being returned to shareholders via dividends.Its calculation considers both dividends declared and earnings generated.
Furthermore,various research establishments have provided their assessments of Fortive’s stock in recent times.It is worth noting that Royal Bank of Canada has increased its price target on the stock from $74.00 to $75.00,in a report published on Friday, May 26th.The Citigroup group has also released a report, raising their price objective for Fortive from $85.00 to $90.00 and giving the company a “buy” rating on Thursday, July 27th.In addition, Mizuho, in another report released on the same day, raised their price objective for Fortive from $63.00 to $70.00.Another report by Robert W. Baird on Thursday, July 27th increased the price objective for Fortive from $82.00 to $85.00.Wells Fargo & Company’s analaysts also changed their previous price target for Fortive’s stock from$67.00 to $71.00 in a report that was released on Monday, July 10th.Eight research firms have already assigned ratings for Fortive out of which three claims it as “hold”rating thus leaving five as “buy”.As per the consensus assessment based on data available up till now concerning Bloomberg,Fortive currently holds a rating called “moderate buy”,accompanied with
