Redwood Investment Management LLC Purchases Shares of 35,784 Fortive Corporation $FTV

Redwood Investment Management LLC bought a new stake in Fortive Corporation (NYSE:FTV) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 35,784 shares of the technology company’s stock, valued at approximately $2,186,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FTV. Eurizon Capital SGR S.p.A. purchased a new position in shares of Fortive during the 4th quarter valued at approximately $20,387,000. WINTON GROUP Ltd acquired a new position in shares of Fortive during the 4th quarter worth about $6,729,000. ABN Amro Investment Solutions purchased a new position in shares of Fortive in the fourth quarter valued at approximately $1,229,000. Hsbc Holdings PLC lifted its holdings in Fortive by 7.0% in the 4th quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock valued at $112,066,000 after purchasing an additional 133,447 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Fortive during the first quarter worth about $11,854,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

Fortive stock opened at $60.30 on Thursday. The company’s 50 day simple moving average is $61.12 and its 200-day simple moving average is $59.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. Fortive Corporation has a 1 year low of $46.54 and a 1 year high of $64.56. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 2.47 and a beta of 1.06.

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

Fortive Increases Dividend

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

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

Analyst Upgrades and Downgrades

Several research firms recently commented on FTV. Truist Financial reaffirmed 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. Morgan Stanley boosted 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. Argus restated a “buy” rating and set a $68.00 price objective on shares of Fortive in a research report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their target price 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. Finally, 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 research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.10.

Insider Activity

In related news, SVP Peter C. Underwood sold 8,662 shares of the 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 transaction, the senior vice president owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. This represents a 9.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Fortive 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.