15,000 Shares in Fortive Corporation $FTV Bought by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd acquired a new position in shares of Fortive Corporation (NYSE:FTV) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 15,000 shares of the technology company’s stock, valued at approximately $828,000.

Several other hedge funds and other institutional investors have also modified their holdings of FTV. Geneos Wealth Management Inc. lifted its stake in shares of 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 purchasing an additional 357 shares during the last quarter. Dorato Capital Management acquired a new stake in shares of Fortive in the 4th quarter valued at $45,000. Dunhill Financial LLC lifted its stake in shares of Fortive by 8,300.0% in the 3rd quarter. Dunhill Financial LLC now owns 1,008 shares of the technology company’s stock valued at $49,000 after purchasing an additional 996 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Fortive by 668.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,145 shares of the technology company’s stock valued at $56,000 after purchasing an additional 996 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Fortive by 57.6% in the 4th quarter. Global Retirement Partners LLC now owns 1,157 shares of the technology company’s stock valued at $64,000 after purchasing an additional 423 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction that occurred on 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 approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird set a $65.00 target price on shares of Fortive in a research report on Thursday, February 5th. Barclays boosted their target price on shares of Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Monday, February 9th. Citigroup boosted their target price on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Finally, Morgan Stanley boosted their target price on shares of Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Fortive presently has an average rating of “Hold” and an average target price of $61.54.

Fortive Stock Performance

NYSE FTV opened at $59.22 on Monday. The stock has a market cap of $18.05 billion, a P/E ratio of 35.46, a PEG ratio of 3.18 and a beta of 1.09. The company’s 50-day simple moving average is $58.22 and its 200 day simple moving average is $56.14. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $73.77. 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 (NYSE:FTV) last posted its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $2.14 billion for 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%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts forecast that Fortive Corporation will post 2.96 earnings per share for the current fiscal year.

Fortive declared that its Board of Directors has authorized a stock buyback plan on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, March 13th. Fortive’s dividend payout ratio is presently 14.37%.

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.