Fortive Corporation $FTV Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Fortive Corporation (NYSE:FTV) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,787,747 shares of the technology company’s stock after acquiring an additional 116,939 shares during the quarter. Geode Capital Management LLC’s holdings in Fortive were worth $483,327,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Dodge & Cox lifted its holdings in 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 acquiring an additional 9,422,189 shares during the period. Viking Global Investors LP lifted its holdings in Fortive by 28.7% in the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after acquiring an additional 4,571,056 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake 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. raised its stake 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. raised its stake 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. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FTV shares. Zacks Research downgraded Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Barclays lifted their price target on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Monday, February 9th. Truist Financial reaffirmed a “hold” rating and set a $61.00 price target (up from $56.00) on shares of Fortive in a research note on Monday, May 4th. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Monday, May 11th. Finally, Morgan Stanley lifted their price target on Fortive from $53.00 to $58.00 and gave the stock 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 issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortive presently has a consensus rating of “Hold” and an average target price of $61.54.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Fortive Trading Down 0.2%

NYSE:FTV opened at $58.19 on Monday. The company has a market capitalization of $17.74 billion, a PE ratio of 34.84, a price-to-earnings-growth ratio of 3.13 and a beta of 1.06. The stock has a fifty day simple moving average of $58.68 and a 200-day simple moving average of $56.44. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $73.77. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. 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 announced that its board has approved a share repurchase program on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.