Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stock Position in Fortive Corporation $FTV

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of Fortive Corporation (NYSE:FTV) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,619 shares of the technology company’s stock after selling 15,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fortive were worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WINTON GROUP Ltd purchased a new stake in Fortive during the 4th quarter worth about $6,729,000. Parallel Advisors LLC increased its position in Fortive by 20.2% during the 4th quarter. Parallel Advisors LLC now owns 5,395 shares of the technology company’s stock worth $298,000 after purchasing an additional 908 shares in the last quarter. Vise Technologies Inc. purchased a new stake in Fortive during the 4th quarter worth about $274,000. Continuum Advisory LLC increased its position in Fortive by 2.3% during the 4th quarter. Continuum Advisory LLC now owns 14,131 shares of the technology company’s stock worth $780,000 after purchasing an additional 321 shares in the last quarter. Finally, Lido Advisors LLC increased its position in Fortive by 8.9% during the 4th quarter. Lido Advisors LLC now owns 4,983 shares of the technology company’s stock worth $275,000 after purchasing an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 87,780 shares in the company, valued at $5,337,901.80. The trade was a 35.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FTV. Wells Fargo & Company lifted their price objective on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, May 11th. Truist Financial reissued a “hold” rating and issued a $61.00 price target (up from $56.00) on shares of Fortive in a research note on Monday, May 4th. Citigroup raised their price target on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Three investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.62.

Fortive Stock Performance

Fortive stock opened at $62.78 on Wednesday. The stock’s 50 day moving average price is $59.52 and its 200 day moving average price is $56.91. The firm has a market capitalization of $19.14 billion, a PE ratio of 37.59 and a beta of 1.06. 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 one year low of $46.34 and a one year high of $73.41.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.85 EPS. Fortive’s revenue for the quarter 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, sell-side analysts expect that Fortive Corporation will post 2.97 EPS for the current fiscal year.

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

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 issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 22nd. Fortive’s payout ratio is 14.37%.

Fortive Company 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.