Weitz Investment Management Inc. purchased a new position in shares of Fortive Corporation (NYSE:FTV – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,750 shares of the technology company’s stock, valued at approximately $1,329,000.
Several other institutional investors and hedge funds have also recently modified their holdings of FTV. Dodge & Cox grew its holdings in shares of Fortive by 3.7% in the fourth quarter. Dodge & Cox now owns 44,157,822 shares of the technology company’s stock valued at $2,437,953,000 after purchasing an additional 1,562,028 shares during the period. BlackRock Inc. purchased a new position in Fortive during the second quarter worth about $1,626,463,000. Viking Global Investors LP raised its stake in Fortive by 28.7% during the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after purchasing an additional 4,571,056 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Fortive by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock worth $1,106,760,000 after purchasing an additional 4,532,031 shares during the period. Finally, Flossbach Von Storch SE acquired a new position in Fortive in the 2nd quarter valued at about $739,668,000. Institutional investors and hedge funds own 94.94% of the company’s stock.
Insiders Place Their Bets
In related news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Read Our Latest Stock Analysis on FTV
Fortive Stock Up 1.2%
Shares of NYSE FTV opened at $60.14 on Friday. The stock has a market cap of $18.16 billion, a P/E ratio of 35.59, a PEG ratio of 2.49 and a beta of 1.06. The business’s fifty day simple moving average is $61.16 and its 200-day simple moving average is $59.39. Fortive Corporation has a 12-month low of $46.54 and a 12-month high of $64.56. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.
Fortive (NYSE:FTV – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.Fortive’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, equities analysts predict that Fortive Corporation will post 3.02 EPS for the current fiscal year.
Fortive announced that its Board of Directors has approved a share buyback plan on Monday, May 4th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Fortive Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s payout ratio is currently 14.20%.
Fortive Company Profile
Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.
Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.
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