317,690 Shares in Fortive Corporation $FTV Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in Fortive Corporation (NYSE:FTV) during the second quarter, HoldingsChannel reports. The institutional investor bought 317,690 shares of the technology company’s stock, valued at approximately $19,408,000.

Other large investors have also recently bought and sold shares of the company. Root Financial Partners LLC raised its holdings in shares of Fortive by 43.6% in the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after acquiring an additional 168 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of Fortive by 2.1% in the first quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company’s stock valued at $500,000 after acquiring an additional 187 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of Fortive by 20.5% during the fourth quarter. Rothschild Investment LLC now owns 1,113 shares of the technology company’s stock valued at $61,000 after acquiring an additional 189 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Fortive by 2.3% during the fourth quarter. Empowered Funds LLC now owns 8,733 shares of the technology company’s stock valued at $482,000 after acquiring an additional 197 shares during the last quarter. Finally, Clearstead Trust LLC increased its position in Fortive by 29.8% during the 4th quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock worth $53,000 after purchasing an additional 219 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Down 0.5%

Shares of NYSE:FTV opened at $59.64 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.48 and a beta of 1.06. The stock’s 50-day moving average price is $61.07 and its two-hundred day moving average price is $59.47. Fortive Corporation has a 12-month low of $46.54 and a 12-month high of $64.56.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, research analysts forecast that Fortive Corporation will post 3.02 EPS for the current year.

Fortive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.5%. This is a positive change from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, September 4th. Fortive’s dividend payout ratio (DPR) is currently 14.20%.

Fortive announced that its board has approved a share repurchase program on Monday, May 4th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FTV shares. Truist Financial reissued a “hold” rating and issued a $68.00 target price (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Royal Bank Of Canada raised their price target on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Argus reissued a “buy” rating and set a $68.00 price objective on shares of Fortive in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.10.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the transaction, the senior vice president 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

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.