34,378 Shares in Fortive Corporation $FTV Bought by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in Fortive Corporation (NYSE:FTV) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,378 shares of the technology company’s stock, valued at approximately $1,900,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after acquiring an additional 2,811 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Fortive by 6.9% in the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after purchasing an additional 430 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after purchasing an additional 357 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Fortive by 87.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after purchasing an additional 1,062 shares during the period. Finally, Cerity Partners LLC increased its position in Fortive by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock worth $4,201,000 after purchasing an additional 2,548 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on FTV shares. Citigroup raised their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Royal Bank Of Canada increased their price objective on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Wells Fargo & Company lifted their target price on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. Finally, Zacks Research lowered Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fortive currently has a consensus rating of “Hold” and an average target price of $61.62.

Fortive Stock Performance

Fortive stock opened at $61.70 on Monday. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $71.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 36.94 and a beta of 1.06. The firm’s fifty day moving average price is $60.38 and its 200 day moving average price is $57.62.

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

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 22nd will be paid a $0.06 dividend. The ex-dividend date is Monday, June 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s payout ratio is 14.37%.

Fortive declared that its Board of Directors has initiated a share buyback plan on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 47,557 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president owned 87,780 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 0.65% of the company’s stock.

Fortive 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.