Fortive Corporation $FTV Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its position in shares of Fortive Corporation (NYSE:FTV) by 49.4% during the first quarter, Holdings Channel reports. The firm owned 671,708 shares of the technology company’s stock after buying an additional 222,129 shares during the quarter. Sei Investments Co.’s holdings in Fortive were worth $37,132,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FTV. Norges Bank purchased a new position in shares of Fortive in the fourth quarter valued at $491,928,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fortive by 102,687.8% in 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 boosted its position 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 worth $1,003,495,000 after buying an additional 4,571,056 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 4,532,031 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in 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 acquiring an additional 2,502,300 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the sale, the senior vice president owned 87,780 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Fortive Trading Up 0.1%

Shares of FTV stock opened at $62.39 on Monday. The company has a market capitalization of $18.87 billion, a price-to-earnings ratio of 37.36 and a beta of 1.06. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $60.82 and a 200 day moving average price of $58.54. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $64.33.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts forecast that Fortive Corporation will post 2.98 earnings per share for the current fiscal year.

Fortive announced that its board has initiated a stock repurchase program on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 22nd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s dividend payout ratio is presently 14.37%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FTV shares. Royal Bank Of Canada raised their target price 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. Truist Financial increased their price target on shares of Fortive from $61.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Morgan Stanley increased their price target on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. 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 research report on Monday, May 4th. Finally, Zacks Research lowered Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.