Nordea Investment Management AB has significantly increased its stake in Fortive Co. (NYSE:FTV) during the second quarter, according to the company’s most recent Form 13F filing with the Securities & Exchange Commission. The firm now owns 461,960 shares of Fortive’s stock, representing a 1,651.2% increase after purchasing an additional 435,581 shares during the period. These shares have a value of approximately $34,333,000. As of its most recent SEC filing, Nordea Investment Management AB owned about 0.13% of Fortive.
Fortive recently reported its quarterly earnings data on July 26th. The technology company exceeded expectations by announcing earnings per share (EPS) of $0.85 for the quarter, surpassing the consensus estimate of $0.81 by $0.04. This translates into a return on equity (ROE) of 11.99% and a net margin of 13.39%. Additionally, Fortive generated $1.53 billion in revenue during this period, slightly higher than analysts’ expectations of $1.51 billion.
Comparing these results to the same quarter last year reveals a positive trend in Fortive’s financial performance. The company’s EPS was $0.78 in the previous year, indicating growth and improvement over time. This is further supported by a quarterly revenue increase of 4.3% compared to the corresponding quarter from last year.
Moving forward, equities research analysts are predicting that Fortive Co.’s earnings per share for the current fiscal year will be around 3.42 on average.
This substantial increase in Nordea Investment Management AB’s stake in Fortive indicates confidence in the company’s prospects and potential for future growth and success within the technology sector.
Overall, considering Nordea Investment Management AB’s significant investment and Fortive Co.’s positive financial performance indicators, it will be interesting to observe how the company continues to thrive and develop in the coming months and years.
Recent Ownership Changes, Analyst Reports, and Insider Transactions at Fortive Corporation
Fortive Corporation, a technology company specializing in industrial automation and professional instrumentation solutions, has recently seen some notable changes in its ownership structure. Several institutional investors have modified their holdings of the company, acquiring new stakes and positions.
One such institutional investor is OLD Mission Capital LLC, which acquired a new stake in Fortive during the fourth quarter of last year. The stake was valued at $33,000. Similarly, Belpointe Asset Management LLC purchased a new position in Fortive during the same period, with a value of approximately $36,000. In the first quarter of this year, Ridgewood Investments LLC also acquired a new position in the company worth about $37,000. Oakworth Capital Inc. bought a stake in Fortive worth $40,000 during the first quarter. It is important to note that all these acquisitions were made by different institutions.
Furthermore, Clear Street Markets LLC raised its position in Fortive by 93% during the first quarter. The market now owns 691 shares of the technology company’s stock with an estimated value of $47,000 after purchasing an additional 333 shares.
Currently, approximately 95.95% of Fortive’s stock is owned by various institutional investors and hedge funds. This figure indicates substantial interest from these entities in owning shares of the company.
Several analysts have also recently issued reports on Fortive’s stock performance and outlook. Royal Bank of Canada increased their target price on the stock from $74 to $75 per share in May earlier this year. Robert W. Baird also raised their target price on Fortive’s shares from $82 to $85 per share in July.
Wells Fargo & Company increased their price target from $67 to $71 per share on July 10th. Seaport Res Ptn reissued a “buy” rating on Fortive’s shares on August 7th. Finally, Mizuho raised the price objective from $63 to $70 per share on July 27th.
Overall, Fortive currently has a consensus rating of “Moderate Buy” based on these reports and a consensus price target of $78 per share, as reported by Bloomberg.com.
In other news regarding Fortive Corporation, there have been some noteworthy insider transactions involving top executives. CFO Charles E. Mclaughlin sold 16,911 shares of the company’s stock in late July at an average price of $76.66 per share. The total value of this transaction was approximately $1,296,397.26.
Following this sale, Mclaughlin now owns 101,319 shares valued at $7,767,114.54. CEO Patrick K. Murphy also sold 21,793 shares of Fortive stock at an average price of $76.50 per share on the same day.
The filing with the Securities & Exchange Commission reveals that CFO Mclaughlin made another sale of 16,911 shares on that day too. The shares were sold at an average price of $76.66 per share for a total amount of $1,296,397.26.
These insider transactions are essential information for investors and can provide insights into the confidence level or future prospects held by company executives.
Fortive currently trades on the New York Stock Exchange (NYSE) under the ticker symbol FTV. As of September 18th, its shares opened at $75.99.
Notably, Fortive has a current ratio of 0.96 and a quick ratio of 0.74, which reflect its liquidity position. The company has a debt-to-equity ratio of 0.20 and boasts a market capitalization of around $26.75 billion.
Fortive’s price-to-earnings ratio stands at 33.77 while its PEG ratio is reported to be around 2.80. These metrics help investors gauge the valuation of the stock in relation to its earnings growth potential.
Moreover, Fortive’s beta is 1.15, indicating that it tends to be slightly more volatile than the overall market. The company has experienced a trading range between $57.43 and $79.90 over the past year.
These recent developments in Fortive Corporation’s ownership structure, analyst reports, insider transactions, and key financial ratios provide valuable information for investors seeking to make informed decisions about investing in the company’s shares.