Allstate Corp Has $1.22 Million Stock Holdings in Fortive Corporation $FTV

Allstate Corp boosted its position in Fortive Corporation (NYSE:FTV) by 92.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,025 shares of the technology company’s stock after buying an additional 10,561 shares during the quarter. Allstate Corp’s holdings in Fortive were worth $1,216,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dodge & Cox increased its position in Fortive by 28.4% during the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock worth $2,086,768,000 after buying an additional 9,422,189 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings 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 worth $413,361,000 after buying an additional 7,479,776 shares in the last quarter. Viking Global Investors LP raised its holdings in shares of Fortive by 28.7% during the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after buying an additional 4,571,056 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Fortive by 55.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock worth $426,699,000 after buying an additional 3,096,711 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Fortive by 205.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,719,200 shares of the technology company’s stock worth $182,204,000 after buying an additional 2,502,300 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the completion of the sale, the senior vice president owned 87,780 shares of the company’s stock, valued at $5,337,901.80. This trade represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FTV. Royal Bank Of Canada upped their price target on Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, May 11th. Zacks Research downgraded Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Barclays upped their price target on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Monday, February 9th. Finally, Citigroup upped their price target on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.54.

Fortive Price Performance

Fortive stock opened at $58.19 on Friday. The firm has a market capitalization of $17.74 billion, a P/E ratio of 34.84, a PEG ratio of 3.18 and a beta of 1.09. Fortive Corporation has a one year low of $46.34 and a one year high of $73.77. The business has a fifty day moving average price of $58.68 and a 200-day moving average price of $56.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $0.85 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, equities research analysts forecast that Fortive Corporation will post 2.96 EPS for the current year.

Fortive declared that its Board of Directors has approved a stock buyback plan 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 plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.