Nolet Wealth Management LLC Invests $629,000 in Fortive Corporation $FTV

Nolet Wealth Management LLC acquired a new position in shares of Fortive Corporation (NYSE:FTV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,400 shares of the technology company’s stock, valued at approximately $629,000.

Other hedge funds have also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in shares of Fortive during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. grew its stake in shares of 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 acquiring an additional 357 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of Fortive by 43.6% in the fourth 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. Dorato Capital Management bought a new position in Fortive during the fourth quarter worth $45,000. Finally, Hantz Financial Services Inc. increased its position in Fortive by 149.3% during the fourth quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock worth $47,000 after acquiring an additional 506 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.6%

FTV opened at $61.05 on Friday. The company has a market capitalization of $18.61 billion, a P/E ratio of 36.56 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The firm’s fifty day moving average price is $60.18 and its two-hundred day moving average price is $57.29. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $71.85.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The business’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. On average, analysts anticipate that Fortive Corporation will post 2.97 EPS for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is currently 14.37%.

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

Analyst Ratings Changes

A number of brokerages have weighed in on FTV. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, May 11th. Royal Bank Of Canada boosted their price objective on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Morgan Stanley lifted their target price on Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.62.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by corporate insiders.

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.