E. Ohman J or Asset Management AB Invests $639,000 in Fortive Corporation $FTV

E. Ohman J or Asset Management AB acquired a new stake in Fortive Corporation (NYSE:FTV) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 11,577 shares of the technology company’s stock, valued at approximately $639,000.

A number of other hedge funds have also bought and sold shares of FTV. Quent Capital LLC acquired a new position in Fortive in the third quarter valued at $28,000. Exchange Traded Concepts LLC grew its holdings in Fortive by 46.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock worth $36,000 after acquiring an additional 236 shares during the period. Geneos Wealth Management Inc. grew its holdings in Fortive by 246.2% during the 1st 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 period. J.Safra Asset Management Corp raised its position in shares of Fortive by 71.1% in the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock worth $38,000 after acquiring an additional 325 shares in the last quarter. Finally, Motco raised its position in shares of Fortive by 372.0% in the 3rd quarter. Motco now owns 944 shares of the technology company’s stock worth $46,000 after acquiring an additional 744 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

FTV stock opened at $54.74 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. The company’s 50-day moving average is $56.38 and its 200-day moving average is $53.30. The stock has a market capitalization of $16.85 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.96 and a beta of 1.10. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $76.54.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts expect that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Fortive’s dividend payout ratio is presently 13.87%.

Insider Activity

In related news, Director Kate Mitchell sold 7,131 shares of Fortive stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the completion of the sale, the director owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. This trade represents a 18.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTV. Robert W. Baird set a $65.00 target price on Fortive in a research report on Thursday, February 5th. Morgan Stanley raised their target price on Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. JPMorgan Chase & Co. boosted their price target on Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Wednesday, February 11th. Zacks Research upgraded Fortive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Finally, Wells Fargo & Company raised their price objective on shares of Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average price target of $61.23.

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.