Bank Julius Baer & Co. Ltd Zurich, a prominent institutional investor, has recently reduced its holdings in Fortive Co. (NYSE:FTV) by 4.2% during the second quarter of this year. The company disclosed this information in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). As a result of this decrease, Bank Julius Baer now owns 88,664 shares of Fortive’s stock, having sold 3,919 shares during the quarter. These remaining shares hold a value of $6,629,000 as of the most recent filing.
Fortive has been subject to analysis by various research firms lately. Wells Fargo & Company, for instance, recently raised their price target on Fortive from $67.00 to $71.00 in a research report issued on July 10th. During that same month, StockNews.com initiated coverage of the company and rated it as a “buy.” Similarly, BNP Paribas began their own coverage on Fortive and expressed an “outperform” rating along with a target price of $91.00 for the stock. Barclays also chimed in with an “overweight” rating and increased their price target from $77.00 to $83.00 on July 27th. TD Cowen followed suit and upped their price target to $72.00 from $70.00 while maintaining a “market perform” rating on August 23rd.
In total, three research analysts have given the stock a hold rating while nine others have assigned it a buy rating. According to data derived from Bloomberg.com, the consensus rating for Fortive is currently listed as “Moderate Buy” with an average target price of $79.00.
Shares of FTV began trading at $75.46 on Friday and carry a quick ratio of 0.74 along with a current ratio of 0.96. The company’s debt-to-equity ratio stands at 0.20. Over the past twelve months, Fortive has recorded a low of $57.43 and a high of $79.90. As for its moving averages, the 50-day moving average sits at $76.87 while the 200-day moving average is $71.47. With a market capitalization totaling $26.56 billion, Fortive maintains a price-to-earnings ratio of 33.54, a price/earnings to growth ratio of 2.75, and a beta factor of 1.15.
As always, it is essential for investors to conduct their own careful analysis and consider multiple sources before making any investment decisions based on these reports and ratings alone.
[bs_slider_forecast ticker=”VMBS”]
Fortive Co.’s Positions and Executive Trades: Insights for Investors
Fortive Co., a technology company listed on the New York Stock Exchange under the ticker symbol FTV, has seen recent changes in its positions due to various hedge funds and institutional investors. These changes have had an impact on the company’s stock and future outlook.
One such investor, OLD Mission Capital LLC, purchased a new stake in Fortive during the fourth quarter of the previous year valued at approximately $33,000. The acquisition of this stake indicates OLD Mission Capital’s interest and confidence in Fortive’s potential for growth and profitability. Similarly, Ridgewood Investments LLC acquired a new position worth around $37,000 during the first quarter of this year. Oakworth Capital Inc. followed suit by purchasing a position in Fortive worth about $40,000 in the same quarter.
Clear Street Markets LLC showed its support for Fortive by boosting its position in the first quarter by 93%, resulting in 691 shares held with a value of $47,000. This increase suggests that Clear Street Markets views Fortive as a promising investment opportunity. Creative Financial Designs Inc. ADV also increased its position in Fortive during the first quarter by 290.7%, now holding 711 shares with an estimated value of $48,000.
These actions by institutional investors and hedge funds reflect their belief in Fortive’s potential as well as their confidence in its management team and strategic direction. As of now, institutional investors and hedge funds own nearly 96% of the company’s stock.
In other news regarding Fortive, CEO Patrick K. Murphy sold 21,793 shares of the company’s stock on Friday, July 28th at an average price of $76.50 per share, totaling approximately $1,667,164.50. Following this transaction, Murphy holds 60,716 shares valued at $4,644,774 – indicating that he still retains a significant stake in Fortive despite selling some of his shares. Alongside this, CFO Charles E. Mclaughlin sold 16,911 shares of Fortive stock at an average price of $76.66 per share, totaling roughly $1,296,397.26.
The buying and selling of shares by key executives such as the CEO and CFO can provide valuable insights into the company’s performance and prospects. Investors often analyze these transactions to make informed decisions regarding their own holdings in the company.
As for research firms providing analysis on Fortive stock, several have recently published reports with ratings and price targets. Wells Fargo & Company raised its price target from $67 to $71 in July 2023. StockNews.com initiated coverage on Fortive with a “buy” rating, while BNP Paribas also started coverage with an “outperform” rating and a target price of $91.
Barclays lifted its price target from $77 to $83 and labeled the stock as “overweight.” TD Cowen upped their price target from $70 to $72 but maintained a “market perform” rating. Overall, three analysts rated the stock as a hold, while nine gave it a buy rating based on Bloomberg.com data. The average consensus rating is currently labeled as “Moderate Buy,” with an average target price estimated at $79.
Fortive released its earnings results for the second quarter ending July 26th, reporting earnings per share (EPS) of $0.85, surpassing analysts’ consensus estimates by $0.04. The company achieved solid financial performance with a net margin of 13.39% and a return on equity of 11.99%. Additionally, revenue for the quarter stood at $1.53 billion compared to expectations of $1.51 billion, representing growth of 4.3% compared to the same period last year.
Looking forward, equities research analysts predict that Fortive Co. will post an EPS of 3.42 for the current fiscal year.
Fortive recently announced a quarterly dividend payment. Stockholders of record as of September 1st received a dividend of $0.07 per share, representing an annualized dividend of $0.28 and yielding at approximately 0.37%. Dividends are often viewed as a way for companies to distribute their profits to shareholders and can signal strength and stability.
As Fortive continues to navigate the ever-evolving business landscape, developments such as these regarding institutional investors, executive trades, research firm reports, earnings results, and dividends contribute to a comprehensive understanding of the company’s operations and outlook. Investors carefully analyze this information in order to make informed decisions regarding their investments in Fortive stock.