Swiss National Bank lifted its stake in shares of Fortive Corporation (NYSE:FTV – Free Report) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 992,800 shares of the technology company’s stock after buying an additional 65,600 shares during the period. Swiss National Bank owned about 0.33% of Fortive worth $54,882,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of FTV. Dodge & Cox raised its stake 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 valued at $2,437,953,000 after acquiring an additional 1,562,028 shares during the last quarter. Viking Global Investors LP grew its stake in shares of Fortive by 28.7% in 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in Fortive by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock valued at $1,106,760,000 after purchasing an additional 4,532,031 shares during the period. Norges Bank acquired a new stake in Fortive in the fourth quarter valued at $491,928,000. Finally, Geode Capital Management LLC increased its holdings in Fortive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock valued at $483,327,000 after purchasing an additional 116,939 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on FTV shares. Citigroup boosted their target price on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Truist Financial lifted their price objective on Fortive from $61.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Zacks Research downgraded Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their target price on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.00.
Fortive Trading Down 0.5%
NYSE:FTV opened at $60.68 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $18.50 billion, a price-to-earnings ratio of 36.33 and a beta of 1.06. The firm has a fifty day simple moving average of $60.69 and a two-hundred day simple moving average of $58.40. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $64.33.
Fortive (NYSE:FTV – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Analysts expect that Fortive Corporation will post 2.97 EPS for the current fiscal year.
Fortive Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 22nd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 22nd. Fortive’s dividend payout ratio is 14.37%.
Fortive announced that its board has initiated a stock repurchase plan on Monday, May 4th that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, the senior vice president owned 87,780 shares in the company, valued at approximately $5,337,901.80. This represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.
About Fortive
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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