Fortive Corporation $FTV Shares Purchased by Allstate Corp

Allstate Corp increased its position in shares of Fortive Corporation (NYSE:FTV) by 92.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,025 shares of the technology company’s stock after purchasing an additional 10,561 shares during the period. Allstate Corp’s holdings in Fortive were worth $1,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Dodge & Cox boosted its stake in shares of Fortive by 28.4% in the third quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock valued at $2,086,768,000 after purchasing an additional 9,422,189 shares during the period. Viking Global Investors LP lifted its position in shares of Fortive by 28.7% during 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Fortive by 55.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock worth $426,699,000 after buying an additional 3,096,711 shares during the last quarter. Invesco Ltd. lifted its position in shares of Fortive by 7.1% during the 3rd quarter. Invesco Ltd. now owns 7,507,930 shares of the technology company’s stock worth $367,814,000 after buying an additional 497,714 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Fortive by 102,687.8% during 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 during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares in the company, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Fortive Stock Down 1.7%

Shares of Fortive stock opened at $58.19 on Friday. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 3.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $73.77. The stock has a 50-day simple moving average of $58.68 and a 200-day simple moving average of $56.40.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $0.85 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities research analysts expect that Fortive Corporation will post 2.96 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on FTV shares. Barclays boosted their price objective on shares of Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Citigroup increased their target price on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Robert W. Baird set a $65.00 target price on Fortive in a research note on Thursday, February 5th. Finally, Morgan Stanley raised their target price on Fortive from $53.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.54.

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.