Congruence Capital LLC Invests $21.06 Million in Fortive Corporation $FTV

Congruence Capital LLC acquired a new position in shares of Fortive Corporation (NYSE:FTVFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 381,449 shares of the technology company’s stock, valued at approximately $21,060,000. Fortive accounts for approximately 7.7% of Congruence Capital LLC’s portfolio, making the stock its biggest position.

A number of other large investors have also modified their holdings of the stock. Dodge & Cox increased its position in shares of Fortive by 3.7% during the fourth quarter. Dodge & Cox now owns 44,157,822 shares of the technology company’s stock worth $2,437,953,000 after acquiring an additional 1,562,028 shares during the period. Viking Global Investors LP increased its position in shares of 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 acquiring an additional 4,571,056 shares during the period. Norges Bank purchased a new stake in shares of Fortive during the fourth quarter worth $491,928,000. Geode Capital Management LLC increased its position in shares of Fortive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock worth $483,327,000 after acquiring an additional 116,939 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Fortive by 55.2% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock worth $426,699,000 after acquiring an additional 3,096,711 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 0.5%

NYSE FTV opened at $60.15 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $71.85. The stock has a market capitalization of $18.34 billion, a PE ratio of 36.02 and a beta of 1.06. The firm has a 50 day moving average of $59.82 and a two-hundred day moving average of $57.05.

Fortive (NYSE:FTVGet Free Report) last posted its earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts expect that Fortive Corporation will post 2.97 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 22nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 22nd. Fortive’s dividend payout ratio (DPR) is 14.37%.

Fortive declared that its board has approved a share buyback plan on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. Morgan Stanley upped their price objective 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 boosted their price target on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Truist Financial reiterated a “hold” rating and set a $61.00 price target (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Finally, Citigroup boosted their price target on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.62.

Get Our Latest Report on Fortive

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, the senior vice president directly owned 87,780 shares of the company’s stock, valued at $5,337,901.80. This trade represents a 35.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.65% of the stock is owned by company insiders.

Fortive Profile

(Free Report)

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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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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