Fortive (NYSE:FTV) SVP Peter Underwood Sells 8,662 Shares

Fortive Corporation (NYSE:FTV) SVP Peter Underwood sold 8,662 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Fortive Stock Down 0.1%

Shares of Fortive stock opened at $61.70 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. Fortive Corporation has a 1-year low of $46.54 and a 1-year high of $64.56. The business’s fifty day moving average price is $61.24 and its two-hundred day moving average price is $59.05. The company has a market capitalization of $18.63 billion, a P/E ratio of 36.51 and a beta of 1.06.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, research analysts forecast that Fortive Corporation will post 3.01 EPS for the current year.

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

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is presently 14.20%.

Institutional Trading of Fortive

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. purchased a new stake in Fortive during the fourth quarter valued at about $20,387,000. WINTON GROUP Ltd acquired a new stake in shares of Fortive during the fourth quarter valued at approximately $6,729,000. ABN Amro Investment Solutions purchased a new stake in shares of Fortive in the 4th quarter valued at approximately $1,229,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Fortive by 15.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 866,277 shares of the technology company’s stock valued at $47,827,000 after acquiring an additional 116,257 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Fortive by 7.0% in the 4th quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock worth $112,066,000 after purchasing an additional 133,447 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Royal Bank Of Canada boosted their target price on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Wells Fargo & Company upped their target price on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Citigroup upped their target price on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Morgan Stanley upped their price objective on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.10.

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.