Sun Sep 15 15:50:57 UTC 2024: ## Fortive Co. (FTV) Sees Increased Investor Interest: Hedge Funds Pile In

**New York, NY** – Fortive Co. (NYSE: FTV), a technology company specializing in professional and engineered products, software, and services, has seen a surge in investor interest, with several hedge funds increasing their stakes in the company during the second quarter.

Meeder Advisory Services Inc. led the charge, increasing its position in Fortive by 23.3% to a total of 6,177 shares, valuing their holdings at $458,000. Other notable investors include Indiana Trust & Investment Management CO, Ridgewood Investments LLC, International Assets Investment Management LLC, Advisors Asset Management Inc., and J.Safra Asset Management Corp., all of whom acquired new positions in Fortive during the quarter.

This influx of institutional investment reflects a growing confidence in Fortive’s future prospects, with a whopping 94.94% of its stock currently owned by institutional investors and hedge funds.

The positive sentiment is further supported by recent analyst reports. Raymond James upgraded Fortive from “market perform” to “outperform,” setting a $85.00 price target. TD Cowen also upgraded the stock from “hold” to “buy,” raising their target price from $75.00 to $90.00. Mizuho echoed this sentiment, upgrading Fortive from “neutral” to “outperform” and increasing their target price from $80.00 to $90.00. While Truist Financial lowered their price objective from $89.00 to $82.00, they maintained a “buy” rating on the stock.

Fortive’s strong financial performance further fuels investor enthusiasm. The company exceeded analysts’ earnings expectations in the second quarter, reporting $0.93 EPS compared to the estimated $0.92. Revenue, however, slightly missed expectations, coming in at $1.55 billion against an estimated $1.57 billion.

Despite the minor revenue miss, Fortive’s robust earnings and positive analyst outlook suggest a bright future for the company. With a “Moderate Buy” consensus rating and an average price target of $86.23, Fortive remains a compelling investment opportunity for investors seeking exposure to the technology sector.

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