Vinva Investment Management reduced its stake in
Fortive Co. (FTV), while the stock is up 11.2% since the last earnings report. Nevertheless, FTV underperformed the market last Friday. The Fortive shares were downgraded by JP Morgan and meanwhile, Citigroup Inc. and Intech Investment Management have also reduced their holdings in the company. On the other hand,
Fortive announced its strategic plan to split into two independent public companies, with the AI boom potentially powering Fortive. UBS and Bank of Montreal made significant investments, and the corporation declared a $0.08 quarterly dividend. The company showed
strong EPS and cash flow growth in its Q3 2024 earnings call, with intentions to raise its full year 2024 outlook. Fortive's stock performance triggered a separation proposal, while other subsidiaries have reported a Notice of Data Breach. Even with sales below analyst estimates, Fortive is on an uptrend, and Wall Street expects earnings growth. FTV's Q3 revenues were up YoY, and the outlook was raised. However,
Fortive has been facing end-market pressures, leading to a loss of its luster. It also confirmed it's spinning off a testing unit.
Fortive Corporation FTV News Analytics from Wed, 24 Apr 2024 07:00:00 GMT to Sat, 30 Nov 2024 10:50:57 GMT -
Rating 2
- Innovation -3
- Information 5
- Rumor 0
