8,407 Shares in Fortive Corporation $FTV Purchased by State of Wyoming

State of Wyoming acquired a new position in Fortive Corporation (NYSE:FTV) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 8,407 shares of the technology company’s stock, valued at approximately $514,000.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after purchasing an additional 2,811 shares during the last quarter. Empowered Funds LLC boosted its holdings in Fortive by 6.9% in the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after purchasing an additional 430 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after purchasing an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Fortive by 87.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after purchasing an additional 1,062 shares during the period. Finally, Cerity Partners LLC grew its position in Fortive by 3.3% in the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock worth $4,201,000 after purchasing an additional 2,548 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 79,118 shares in the company, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

Fortive Price Performance

NYSE FTV opened at $60.60 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Fortive Corporation has a 12 month low of $46.54 and a 12 month high of $64.56. The company’s 50 day moving average is $61.26 and its two-hundred day 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 (NYSE:FTV) last issued its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. Fortive’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. 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 announced that its Board of Directors has authorized a stock buyback program on Monday, May 4th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors 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 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is currently 14.20%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FTV shares. Weiss Ratings raised Fortive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, May 11th. Wells Fargo & Company lifted their price objective on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Zacks Research cut Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Citigroup increased their target price on 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 assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.