Fortive Corporation $FTV Stock Holdings Lowered by California Public Employees Retirement System

California Public Employees Retirement System cut its position in Fortive Corporation (NYSE:FTV) by 4.3% during the 1st quarter, HoldingsChannel reports. The firm owned 580,757 shares of the technology company’s stock after selling 26,141 shares during the quarter. California Public Employees Retirement System’s holdings in Fortive were worth $32,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dodge & Cox grew its position in Fortive by 3.7% in the 4th quarter. Dodge & Cox now owns 44,157,822 shares of the technology company’s stock worth $2,437,953,000 after purchasing an additional 1,562,028 shares during the last quarter. Viking Global Investors LP increased its position in Fortive by 28.7% in the 3rd 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. Price T Rowe Associates Inc. MD increased its position in Fortive by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock valued at $1,106,760,000 after acquiring an additional 4,532,031 shares during the period. Norges Bank bought a new stake in Fortive during the 4th quarter valued at $491,928,000. Finally, Geode Capital Management LLC raised its stake in Fortive by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock valued at $483,327,000 after acquiring an additional 116,939 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Down 0.5%

NYSE FTV opened at $60.68 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The company’s 50 day simple moving average is $60.69 and its 200 day simple moving average is $58.40. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $64.33. The company has a market capitalization of $18.50 billion, a P/E ratio of 36.33 and a beta of 1.06.

Fortive (NYSE:FTV) last posted 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 company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. 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. Equities research analysts expect that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive Dividend Announcement

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

Fortive declared that its Board of Directors has authorized a share buyback program 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 programs are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup increased their price target on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Truist Financial raised their target price on shares of Fortive from $61.00 to $67.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Fortive currently has an average rating of “Hold” and a consensus target price of $63.00.

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 87,780 shares of the company’s stock, valued at $5,337,901.80. This represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

About Fortive

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.