Fortive Corporation $FTV Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Fortive Corporation (NYSE:FTV) by 2.9% in the first quarter, Holdings Channel.com reports. The firm owned 2,029,168 shares of the technology company’s stock after purchasing an additional 56,887 shares during the period. Bank of New York Mellon Corp’s holdings in Fortive were worth $112,172,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after purchasing an additional 2,811 shares during the period. Empowered Funds LLC grew its position in Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after purchasing an additional 430 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Fortive by 87.9% in 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 period. Finally, Cerity Partners LLC increased its stake in Fortive by 3.3% in 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 period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV opened at $61.07 on Tuesday. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 36.57 and a beta of 1.06. The company’s fifty day moving average is $60.68 and its 200-day moving average is $58.37. 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 Corporation has a 12 month low of $46.34 and a 12 month high of $64.33.

Fortive (NYSE:FTV) last released its quarterly earnings data 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. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. Fortive’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities analysts expect that Fortive Corporation will post 2.97 EPS for the current fiscal year.

Fortive Announces Dividend

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

Fortive announced that its Board of Directors has authorized a share buyback 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 usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

FTV has been the subject of a number of research reports. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Monday, May 11th. Wells Fargo & Company upped their price target on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. JPMorgan Chase & Co. lifted their price objective on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Finally, Truist Financial boosted their target price on Fortive from $61.00 to $67.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.91.

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 stock was sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the transaction, the senior vice president owned 87,780 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 0.65% of the company’s stock.

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.