Delta Global Management LP Has $465,000 Position in Fortive Corporation $FTV

Delta Global Management LP cut its stake in Fortive Corporation (NYSE:FTV) by 71.8% during the first quarter, HoldingsChannel reports. The fund owned 8,414 shares of the technology company’s stock after selling 21,467 shares during the quarter. Delta Global Management LP’s holdings in Fortive were worth $465,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FTV. DV Equities LLC bought a new stake in shares of Fortive in the 4th quarter valued at approximately $25,000. Root Financial Partners LLC raised its position in Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after acquiring an additional 168 shares in the last quarter. Main Street Group LTD bought a new position in Fortive during the first quarter valued at approximately $31,000. Geneos Wealth Management Inc. lifted its stake in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the last quarter. Finally, Dorato Capital Management acquired a new stake in Fortive in the fourth quarter valued at approximately $45,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FTV shares. 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 report on Monday, May 11th. Citigroup upped their price objective on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Truist Financial increased their target price on shares of Fortive from $61.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their target price on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada boosted their price target on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $63.00.

Fortive Trading Up 0.1%

NYSE:FTV opened at $62.39 on Monday. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $64.33. The firm has a market cap of $18.87 billion, a price-to-earnings ratio of 37.36 and a beta of 1.06. 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 company’s 50 day moving average is $60.82 and its 200-day moving average is $58.54.

Fortive (NYSE:FTV) last issued its quarterly earnings data 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. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. Fortive’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities analysts anticipate that Fortive Corporation will post 2.98 EPS for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a 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 stock repurchase plan on Monday, May 4th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. This trade represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by company insiders.

Fortive Company 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.