Dimensional Fund Advisors LP Has $170.54 Million Stock Position in Fortive Corporation $FTV

Dimensional Fund Advisors LP grew its position in shares of Fortive Corporation (NYSE:FTV) by 3.4% in the first quarter, HoldingsChannel reports. The fund owned 3,085,579 shares of the technology company’s stock after acquiring an additional 102,432 shares during the period. Dimensional Fund Advisors LP’s holdings in Fortive were worth $170,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTV. Dodge & Cox lifted its position in shares of Fortive by 3.7% in the fourth 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 in the last quarter. Viking Global Investors LP boosted its holdings in Fortive by 28.7% during the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after purchasing an additional 4,571,056 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Fortive by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock worth $1,106,760,000 after purchasing an additional 4,532,031 shares during the last quarter. Norges Bank bought a new position in Fortive in the fourth quarter valued at $491,928,000. Finally, Geode Capital Management LLC grew its position in Fortive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock valued at $483,327,000 after purchasing an additional 116,939 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

NYSE:FTV opened at $62.39 on Friday. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $64.33. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $60.82 and a 200 day simple moving average of $58.50. The stock has a market capitalization of $18.87 billion, a PE ratio of 37.36 and a beta of 1.06.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter 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, research analysts expect that Fortive Corporation will post 2.98 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Monday, June 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s payout ratio is currently 14.37%.

Fortive declared that its Board of Directors has approved a stock buyback program on Monday, May 4th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on FTV. Royal Bank Of Canada lifted their price target on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Morgan Stanley increased their price objective on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Citigroup raised their price objective on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, May 11th. Finally, Wells Fargo & Company upped their target price on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.00.

Insider Activity

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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

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.