PDT Partners LLC Acquires New Position in Fortive Corporation $FTV

PDT Partners LLC acquired a new stake in Fortive Corporation (NYSE:FTV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,600 shares of the technology company’s stock, valued at approximately $892,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Fortive during the 2nd quarter worth approximately $1,626,463,000. Flossbach Von Storch SE purchased a new stake in shares of Fortive in the second quarter valued at approximately $739,668,000. Norges Bank acquired a new position in Fortive during the fourth quarter worth $491,928,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Fortive during the second quarter worth $527,526,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Fortive by 102,687.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,487,060 shares of the technology company’s stock worth $413,361,000 after acquiring an additional 7,479,776 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Down 0.5%

Fortive stock opened at $59.93 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. The firm has a market capitalization of $18.10 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06. Fortive Corporation has a fifty-two week low of $46.54 and a fifty-two week high of $64.56. The stock’s fifty day moving average is $61.09 and its two-hundred day moving average is $59.47.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Analysts predict that Fortive Corporation will post 3.02 EPS for the current fiscal year.

Fortive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.07 dividend. This is a boost from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, September 4th. Fortive’s dividend payout ratio (DPR) is currently 14.20%.

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

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of recent analyst reports. Weiss Ratings raised Fortive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Truist Financial reiterated a “hold” rating and issued a $68.00 price target (up from $67.00) on shares of Fortive in a report on Thursday, July 30th. 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 report on Friday, May 1st. Finally, Morgan Stanley raised their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.10.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction that occurred on 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 directly owned 79,118 shares in the company, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

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.