Fortive Corporation $FTV Position Lifted by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA grew its stake in shares of Fortive Corporation (NYSE:FTV) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,369 shares of the technology company’s stock after acquiring an additional 52,800 shares during the period. Lombard Odier Asset Management Switzerland SA owned about 0.08% of Fortive worth $13,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dodge & Cox raised its position in shares of Fortive by 3.7% during the 4th quarter. Dodge & Cox now owns 44,157,822 shares of the technology company’s stock valued at $2,437,953,000 after acquiring an additional 1,562,028 shares in the last quarter. Viking Global Investors LP boosted its holdings in Fortive by 28.7% in the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after purchasing an additional 4,571,056 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Fortive by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock worth $1,106,760,000 after purchasing an additional 4,532,031 shares during the period. Norges Bank bought a new stake in Fortive during the fourth quarter valued at $491,928,000. Finally, Geode Capital Management LLC increased its stake in Fortive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock valued at $483,327,000 after purchasing an additional 116,939 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Truist Financial increased their price objective on shares of Fortive from $61.00 to $67.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their target price on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Finally, Morgan Stanley raised their price target on Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

Fortive Stock Up 2.9%

FTV stock opened at $62.39 on Friday. The stock has a market cap of $18.87 billion, a PE ratio of 37.36 and a beta of 1.06. The firm’s 50-day simple moving average is $60.82 and its 200 day simple moving average is $58.50. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $64.33. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43.

Fortive (NYSE:FTV) last posted its 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 net margin of 12.84% and a return on equity of 12.66%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $0.85 EPS. Fortive’s 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, sell-side analysts predict that Fortive Corporation will post 2.98 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 22nd were given a dividend of $0.06 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s payout ratio is currently 14.37%.

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.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the firm’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 value of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares in the company, valued at $5,337,901.80. This trade represents a 35.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

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.