NewEdge Advisors LLC Has $1.27 Million Stake in Fortive Corporation $FTV

NewEdge Advisors LLC grew its position in Fortive Corporation (NYSE:FTV) by 106.7% in the first quarter, HoldingsChannel.com reports. The fund owned 22,959 shares of the technology company’s stock after buying an additional 11,853 shares during the quarter. NewEdge Advisors LLC’s holdings in Fortive were worth $1,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC grew its position in Fortive by 43.6% during the 4th 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 boosted its stake in Fortive by 2.1% in the first quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company’s stock worth $500,000 after purchasing an additional 187 shares in the last quarter. Rothschild Investment LLC grew its holdings 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 worth $61,000 after purchasing an additional 189 shares during the last quarter. Empowered Funds LLC grew its holdings 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 worth $482,000 after purchasing an additional 197 shares during the last quarter. Finally, Clearstead Trust LLC increased its stake in shares of Fortive by 29.8% in the fourth quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock valued at $53,000 after buying an additional 219 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Truist Financial restated a “hold” rating and issued a $68.00 price objective (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Monday, May 11th. Royal Bank Of Canada increased their price target 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. Finally, Citigroup raised their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.10.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 8,662 shares of the business’s 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 completion of the sale, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by company insiders.

Fortive Price Performance

Fortive stock opened at $60.60 on Tuesday. The business’s 50-day simple moving average is $61.26 and its 200 day simple moving average is $59.25. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of 35.86 and a beta of 1.06. 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.

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

Fortive Announces Dividend

The firm also recently declared 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 14.20%.

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

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.