Fortive Corporation $FTV Shares Purchased by Railway Pension Investments Ltd

Railway Pension Investments Ltd grew its stake in shares of Fortive Corporation (NYSE:FTV) by 55.5% during the second quarter, HoldingsChannel reports. The firm owned 604,400 shares of the technology company’s stock after buying an additional 215,700 shares during the period. Railway Pension Investments Ltd’s holdings in Fortive were worth $36,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Fortive during the 2nd quarter valued at $1,626,463,000. Flossbach Von Storch SE acquired a new position in shares of Fortive in the 2nd quarter worth approximately $739,668,000. Norges Bank bought a new position in shares of Fortive in the fourth quarter valued at $491,928,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Fortive during the second quarter valued at $527,526,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fortive by 102,687.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,487,060 shares of the technology company’s stock worth $413,361,000 after buying an additional 7,479,776 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive 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 sale, the senior vice president owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. This trade represents a 9.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Fortive Stock Down 1.4%

Shares of FTV stock opened at $58.86 on Tuesday. Fortive Corporation has a 12 month low of $46.54 and a 12 month high of $64.56. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58. The firm has a market cap of $17.78 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 2.47 and a beta of 1.06. The stock has a 50 day moving average of $61.01 and a 200-day moving average of $59.44.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Fortive’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. On average, equities analysts predict that Fortive Corporation will post 3.02 EPS for the current year.

Fortive announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Fortive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.07 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Fortive’s previous quarterly dividend of $0.06. Fortive’s dividend payout ratio is 14.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FTV shares. Morgan Stanley increased their target price on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Weiss Ratings lowered Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. 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. JPMorgan Chase & Co. lifted their target price on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Finally, Argus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Fortive in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.10.

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.