What Makes Fortive Corporation (FTV) an Attractive Investment?

Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 6.24% in the fourth quarter, compared to a 7.08% return for the benchmark MSCI ACWI. For the year 2022, the fund returned -24.69% compared to a -17.71% return for its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Cooper Investors highlighted stocks like Fortive Corporation (NYSE:FTV) in the fourth quarter 2022 investor letter. Headquartered in Everett, Washington, Fortive Corporation (NYSE:FTV) provides software products and services globally. On January 18, 2023, Fortive Corporation (NYSE:FTV) stock closed at $66.34 per share. One-month return of Fortive Corporation (NYSE:FTV) was 3.75%, and its shares lost 6.97% of their value over the last 52 weeks. Fortive Corporation (NYSE:FTV) has a market capitalization of $23.472 billion.

Cooper Investors made the following comment about Fortive Corporation (NYSE:FTV) in its Q4 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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Fortive Corporation (NYSE:FTV) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. Per our database, 29 hedge fund portfolios held Fortive Corporation (NYSE:FTV) at the end of the third quarter, and 32 in the previous quarter.

We discussed Fortive Corporation (NYSE:FTV) in another article and discussed whether Peter Avellone’s Cartenna Capital was right about the shares it purchased over the last 12 months. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.