Billionaire Andreas Halvorsen’s Top 15 Long-Term Stock Picks

Page 15 of 15

1. Fortive Corporation (NYSE:FTV)

Number of Hedge Fund Holders: 31 

Viking Global’s Stake: $931.2 million 

Fortive Corporation (NYSE:FTV) designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. The following factors demonstrate the company’s promise as a solid investment. To begin with, the report for the third quarter of 2024 shows a promising picture of the company’s financial growth. For instance, net earnings were $222 million, and for the same period, adjusted net earnings were $342 million. Diluted net earnings per share for the third quarter were $0.63. For the same period, adjusted diluted net earnings per share were $0.97. Secondly, the company also entered into a definitive agreement to acquire German manufacturer EA Elektro-Automatik Holdings GmbH for $1.45 billion in cash. Elektro-Automatik makes test solutions for energy storage, mobility, hydrogen, and renewable energy markets. This may open doors to investment as this deal is expected to strengthen Fortive’s position in the electronic test and measurement market. Moreover, the company has announced its intention to pursue a tax-free spin-off of its Precision Technologies segment, creating two independent publicly traded companies, each with focused business models and tailored investment and capital allocation strategies.

While we acknowledge the potential of Fortive Corporation (NYSE:FTV) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Fortive Corporation (NYSE:FTV) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 15 of 15