15,358 Shares in Fortive Corporation $FTV Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new stake in Fortive Corporation (NYSE:FTV) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 15,358 shares of the technology company’s stock, valued at approximately $938,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Norges Bank acquired a new stake in Fortive during the 4th quarter worth $491,928,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Fortive by 102,687.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,487,060 shares of the technology company’s stock valued at $413,361,000 after acquiring an additional 7,479,776 shares during the last quarter. Viking Global Investors LP lifted its stake in shares of Fortive by 28.7% in the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after purchasing an additional 4,571,056 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Fortive by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock valued at $1,106,760,000 after purchasing an additional 4,532,031 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Fortive by 205.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,719,200 shares of the technology company’s stock valued at $182,204,000 after purchasing an additional 2,502,300 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Fortive Trading Down 0.1%

Shares of NYSE FTV opened at $61.56 on Monday. The company’s fifty day moving average is $61.27 and its 200-day moving average is $59.20. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 36.43 and a beta of 1.06. Fortive Corporation has a twelve month low of $46.54 and a twelve 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 results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Equities research analysts predict that Fortive Corporation will post 3.01 EPS for the current year.

Fortive announced that its board has approved a share buyback program on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.06 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s payout ratio is currently 14.20%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup lifted their price objective on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Morgan Stanley upped their price objective on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Royal Bank Of Canada increased their target price on Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Truist Financial restated a “hold” rating and set a $68.00 target price (up from $67.00) on shares of Fortive in a report on Thursday, July 30th. Finally, Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.