The Manufacturers Life Insurance Company purchased a new stake in Fortive Corporation (NYSE:FTV – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,467,126 shares of the technology company’s stock, valued at approximately $211,807,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its position in Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after acquiring an additional 168 shares in the last quarter. Arkadios Wealth Advisors grew its position in Fortive by 2.1% in the first quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company’s stock worth $500,000 after acquiring an additional 187 shares in the last quarter. Rothschild Investment LLC increased its stake in shares of Fortive by 20.5% during the 4th quarter. Rothschild Investment LLC now owns 1,113 shares of the technology company’s stock worth $61,000 after purchasing an additional 189 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Fortive by 2.3% during the 4th quarter. Empowered Funds LLC now owns 8,733 shares of the technology company’s stock worth $482,000 after purchasing an additional 197 shares during the last quarter. Finally, Clearstead Trust LLC raised its holdings in shares of Fortive by 29.8% during the 4th quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock valued at $53,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Truist Financial restated a “hold” rating and set a $68.00 target price (up from $67.00) on shares of Fortive in a report on Thursday, July 30th. Morgan Stanley boosted their price target on Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada upped their price target on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. increased their price objective on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.10.
Insider Transactions at Fortive
In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is owned by company insiders.
Fortive Stock Performance
NYSE:FTV opened at $60.45 on Tuesday. The firm has a market capitalization of $18.26 billion, a PE ratio of 35.77, a PEG ratio of 2.49 and a beta of 1.06. Fortive Corporation has a 1 year low of $46.54 and a 1 year 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. The firm’s fifty day simple moving average is $61.16 and its 200 day simple moving average is $59.48.
Fortive (NYSE:FTV – Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The business’s revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, sell-side analysts anticipate that Fortive Corporation will post 3.02 EPS for the current year.
Fortive Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.07 dividend. This is an increase from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. Fortive’s payout ratio is 14.20%.
Fortive declared that its Board of Directors has initiated a share buyback program on Monday, May 4th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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