Eurizon Capital SGR S.p.A. Invests $20.39 Million in Fortive Corporation $FTV

Eurizon Capital SGR S.p.A. bought a new position in Fortive Corporation (NYSE:FTV) during the fourth quarter, Holdings Channel reports. The fund bought 369,194 shares of the technology company’s stock, valued at approximately $20,387,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the period. Dorato Capital Management purchased a new stake in shares of Fortive in the 4th quarter worth about $45,000. Hantz Financial Services Inc. grew its position in shares of Fortive by 149.3% in the 4th quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock worth $47,000 after buying an additional 506 shares during the period. Dunhill Financial LLC grew its position in shares of Fortive by 8,300.0% in the 3rd quarter. Dunhill Financial LLC now owns 1,008 shares of the technology company’s stock worth $49,000 after buying an additional 996 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Fortive in the 4th quarter worth about $49,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the transaction, the senior vice president owned 87,780 shares in the company, valued at approximately $5,337,901.80. This represents a 35.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Fortive Stock Performance

Shares of Fortive stock opened at $58.19 on Friday. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 3.13 and a beta of 1.09. The firm’s 50-day moving average is $58.68 and its 200 day moving average is $56.40. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $73.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. Fortive’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Sell-side analysts anticipate that Fortive Corporation will post 2.96 EPS for the current fiscal year.

Fortive announced that its Board of Directors has initiated a stock buyback program on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FTV shares. Robert W. Baird set a $65.00 target price on shares of Fortive in a research report on Thursday, February 5th. JPMorgan Chase & Co. upped their price target on shares of Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Morgan Stanley upped their price target on shares of Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Truist Financial reiterated a “hold” rating and issued a $61.00 price target (up from $56.00) on shares of Fortive in a research note on Monday, May 4th. Finally, Zacks Research cut shares of Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fortive presently has an average rating of “Hold” and an average target price of $61.54.

Fortive Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.