34,530 Shares in Fortive Corporation $FTV Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new position in Fortive Corporation (NYSE:FTV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 34,530 shares of the technology company’s stock, valued at approximately $2,109,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in Fortive in the 2nd quarter worth approximately $5,726,000. Redwood Investment Management LLC bought a new stake in Fortive during the 2nd quarter valued at $2,186,000. Corient Private Wealth LP purchased a new stake in shares of Fortive during the second quarter worth $8,694,000. Bank of America Corp DE bought a new position in shares of Fortive in the second quarter worth $87,260,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Fortive in the second quarter valued at $17,073,000. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV opened at $59.64 on Friday. The stock’s 50-day simple moving average is $61.07 and its two-hundred day simple moving average is $59.47. Fortive Corporation has a twelve month low of $46.54 and a twelve month high of $64.56. The firm has a market capitalization of $18.01 billion, a P/E ratio of 35.29, a P/E/G ratio of 2.47 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The firm 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 company’s revenue for the quarter 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 analysts anticipate that Fortive Corporation will post 3.02 EPS for the current fiscal year.

Fortive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Fortive’s previous quarterly dividend of $0.06. Fortive’s payout ratio is presently 14.20%.

Fortive declared that its board has initiated a share repurchase program on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

FTV has been the subject of several analyst reports. Truist Financial restated a “hold” rating and issued a $68.00 target price (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Wells Fargo & Company increased their price target on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. 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 report on Wednesday, June 3rd. Weiss Ratings lowered shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Argus reiterated a “buy” rating and issued a $68.00 target price on shares of Fortive in a research note on Wednesday, August 19th. 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’s stock. Based on data from MarketBeat, Fortive has a consensus rating of “Hold” and a consensus price target of $63.10.

Insider Activity

In related news, SVP Peter C. Underwood sold 8,662 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the transaction, the senior vice president directly owned 79,118 shares in the company, valued at approximately $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

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.