317,690 Shares in Fortive Corporation $FTV Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in Fortive Corporation (NYSE:FTV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 317,690 shares of the technology company’s stock, valued at approximately $19,408,000. Canada Pension Plan Investment Board owned 0.11% of Fortive as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. DV Equities LLC purchased a new stake in shares of Fortive in the fourth quarter valued at about $25,000. Keating Financial Advisory Services Inc. purchased a new position in Fortive during the second quarter worth about $30,000. Virtus Advisers LLC purchased a new position in Fortive during the second quarter worth about $30,000. Geneos Wealth Management Inc. lifted its position 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 purchasing an additional 357 shares during the period. Finally, Root Financial Partners LLC lifted its position in Fortive by 43.6% in the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 0.5%

Shares of Fortive stock opened at $59.64 on Friday. The company has a 50-day moving average of $61.07 and a two-hundred day moving average of $59.47. Fortive Corporation has a 12-month low of $46.54 and a 12-month high of $64.56. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $18.01 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.48 and a beta of 1.06.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, research analysts anticipate that Fortive Corporation will post 3.02 EPS for the current fiscal year.

Fortive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.07 dividend. This is an increase from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, September 4th. Fortive’s dividend payout ratio (DPR) is 14.20%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Truist Financial restated a “hold” rating and issued a $68.00 price target (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Citigroup upped their price objective on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Morgan Stanley increased their price objective on Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Finally, 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. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and a consensus target price of $63.10.

Insider Activity

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the completion of the transaction, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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.