OP Asset Management Ltd Acquires New Holdings in Fortive Corporation $FTV

OP Asset Management Ltd bought a new stake in shares of Fortive Corporation (NYSE:FTV) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 34,378 shares of the technology company’s stock, valued at approximately $1,900,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in shares of Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after purchasing an additional 2,811 shares in the last quarter. Empowered Funds LLC lifted its stake in Fortive by 6.9% in the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after buying an additional 430 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after buying an additional 357 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Fortive by 87.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock valued at $118,000 after buying an additional 1,062 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Fortive by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock valued at $4,201,000 after buying an additional 2,548 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

FTV stock opened at $61.70 on Monday. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $71.85. The stock’s fifty day simple moving average is $60.38 and its 200-day simple moving average is $57.62. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $18.81 billion, a price-to-earnings ratio of 36.94 and a beta of 1.06.

Fortive (NYSE:FTV) last released its earnings results on Thursday, April 30th. The technology company reported $0.70 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts expect that Fortive Corporation will post 2.97 EPS for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is currently 14.37%.

Fortive declared that its Board of Directors has approved a stock 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. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FTV. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, May 11th. Citigroup lifted their price objective on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Morgan Stanley boosted their target price on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada upped their target price on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.62.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the transaction, the senior vice president directly owned 87,780 shares in the company, valued at $5,337,901.80. This represents a 35.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by corporate insiders.

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.