Rakuten Investment Management Inc. Buys Shares of 62,408 Fortive Corporation $FTV

Rakuten Investment Management Inc. purchased a new position in shares of Fortive Corporation (NYSE:FTV) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 62,408 shares of the technology company’s stock, valued at approximately $2,834,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC boosted its holdings in Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after purchasing an additional 2,811 shares in the last quarter. Empowered Funds LLC raised its holdings in Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after buying an additional 430 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fortive by 18.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,278 shares of the technology company’s stock worth $2,296,000 after acquiring an additional 6,753 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Fortive by 9.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 49,642 shares of the technology company’s stock valued at $2,588,000 after acquiring an additional 4,236 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 0.3%

Shares of Fortive stock opened at $54.57 on Friday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The company’s fifty day simple moving average is $54.23 and its 200-day simple moving average is $51.04. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 3.06 and a beta of 1.13. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 29th. The technology company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.58 by $0.10. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.97 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. As a group, sell-side analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is 13.71%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FTV. Barclays boosted their target price on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Robert W. Baird lifted their price target on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Fortive in a research note on Monday, December 29th. Morgan Stanley raised their target price on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Truist Financial reiterated a “hold” rating and issued a $58.00 target price (up previously from $55.00) on shares of Fortive in a report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.77.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares in the company, valued at $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.92% of the stock is owned by corporate insiders.

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.