Viking Global’s 5 Long-Term Stock Picks

4. Fortive Corporation (NYSE:FTV)

Stock Held by Viking Global Since: Q3 2019

Percentage of Viking Global’s Portfolio as of Q1 2023: 2.03%

Fortive Corporation (NYSE:FTV) is a Fortune 500 company that manufactures and markets products in the industrial technology sector. Danaher Corporation (NYSE:DHR)’s Test and Measurement segment was spun off to form the company in July 2016.

On July 10, Wells Fargo analyst Joseph O’Dea maintained an Equal-Weight rating on Fortive Corporation (NYSE:FTV)’s stock and raised the price target to $71 from $67. The analyst highlighted the possibility of upside risk to the EPS of the second quarter and “modest guidance revision”. Viking Global has held Fortive Corporation (NYSE:FTV)’s stock since the third quarter of 2019. 

Here is what Cooper Investors said about Fortive Corporation (NYSE:FTV) in its fourth-quarter 2022 investor letter:

“Fortive Corporation (NYSE:FTV) completed several acquisitions and had probably its best year operationally since the 2016 spin-off from Danaher, reporting several quarters in a row of double-digit organic growth and margin expansion that beat market estimates. The business has now unlocked the potential we always saw in it, with software almost a quarter of revenues today, providing a nice element of recurring cash flow to support the more cyclical industrial parts of the group.”

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