118,062 Shares in Fortive Corporation $FTV Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB acquired a new stake in Fortive Corporation (NYSE:FTV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 118,062 shares of the technology company’s stock, valued at approximately $7,212,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DV Equities LLC acquired a new stake in shares of Fortive during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its stake in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares in the last quarter. Root Financial Partners LLC grew its holdings in Fortive by 43.6% during the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after buying an additional 168 shares during the last quarter. Main Street Group LTD acquired a new position in shares of Fortive during the 1st quarter valued at about $31,000. Finally, Dakota Community Bank & Trust NA increased its stake in Fortive by 59.2% during the first quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock worth $39,000 after acquiring an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the completion of the sale, the senior vice president directly owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. The trade was a 9.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Fortive Trading Down 0.4%

Fortive stock opened at $61.56 on Friday. The stock has a 50-day simple moving average of $61.27 and a 200 day simple moving average of $59.17. The stock has a market capitalization of $18.59 billion, a P/E ratio of 36.43 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. Fortive Corporation has a 52 week low of $46.54 and a 52 week high of $64.56.

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

Fortive declared that its Board of Directors has authorized a share repurchase program on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Fortive Dividend Announcement

The business 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 22nd. Fortive’s dividend payout ratio (DPR) is 14.20%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FTV. Royal Bank Of Canada upped their target price on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Fortive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Truist Financial reissued a “hold” rating and set a $68.00 price target (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.