Storen Legacy Partners LLC Takes Position in Fortive Corporation $FTV

Storen Legacy Partners LLC purchased a new stake in Fortive Corporation (NYSE:FTV) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,479 shares of the technology company’s stock, valued at approximately $1,020,000. Fortive comprises about 0.3% of Storen Legacy Partners LLC’s portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTV. Nolet Wealth Management LLC bought a new stake in shares of Fortive in the 4th quarter valued at approximately $629,000. Cambient Family Office LLC purchased a new stake in Fortive during the 4th quarter valued at $247,000. Corient Private Wealth LLC lifted its position in Fortive by 14.5% in the fourth quarter. Corient Private Wealth LLC now owns 97,024 shares of the technology company’s stock worth $5,336,000 after buying an additional 12,271 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Fortive by 28.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 42,265 shares of the technology company’s stock worth $2,333,000 after buying an additional 9,359 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its stake in Fortive by 72.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 69,799 shares of the technology company’s stock worth $3,686,000 after buying an additional 29,406 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

Fortive stock opened at $61.05 on Friday. The company has a 50 day moving average price of $60.21 and a 200-day moving average price of $57.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $71.85. The company has a market capitalization of $18.61 billion, a PE ratio of 36.56 and a beta of 1.06.

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

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is presently 14.37%.

Fortive declared that its Board of Directors has initiated a stock buyback program on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on FTV shares. Citigroup boosted their price objective on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Zacks Research cut shares of Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their price target on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Finally, Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fortive currently has a consensus rating of “Hold” and an average target price of $61.62.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $60.81, for a total transaction 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 trade represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a filing 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.