Cloverfields Capital Group LP Has $1.23 Million Holdings in Fortive Corporation $FTV

Cloverfields Capital Group LP raised its holdings in Fortive Corporation (NYSE:FTV) by 63.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,330 shares of the technology company’s stock after purchasing an additional 8,694 shares during the period. Cloverfields Capital Group LP’s holdings in Fortive were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Dodge & Cox lifted its position in shares of Fortive by 28.4% during the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock worth $2,086,768,000 after buying an additional 9,422,189 shares during the period. Viking Global Investors LP raised its holdings in shares of Fortive by 28.7% in the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after buying an additional 4,571,056 shares during the last quarter. Norges Bank acquired a new position in Fortive during the 4th quarter worth about $491,928,000. Geode Capital Management LLC grew its holdings 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 worth $483,327,000 after acquiring an additional 116,939 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Fortive by 55.2% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock worth $426,699,000 after acquiring an additional 3,096,711 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

NYSE FTV opened at $60.15 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71. The stock has a market cap of $18.34 billion, a price-to-earnings ratio of 36.02 and a beta of 1.06. The business has a 50 day simple moving average of $59.82 and a 200 day simple moving average of $57.05. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $71.85.

Fortive (NYSE:FTV) last announced its quarterly 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. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The business’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. Analysts anticipate that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 22nd will be 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 is Monday, June 22nd. Fortive’s dividend payout ratio is 14.37%.

Fortive announced that its board has initiated a share 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 leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FTV. Royal Bank Of Canada increased their price objective on Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Wells Fargo & Company boosted 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. Citigroup increased their price target on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Truist Financial restated a “hold” rating and issued a $61.00 price target (up from $56.00) on shares of Fortive in a research report on Monday, May 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.62.

Insider Transactions at Fortive

In other Fortive 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 value of $2,891,941.17. Following the sale, the senior vice president owned 87,780 shares of the company’s stock, valued at $5,337,901.80. This trade represents a 35.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.