Pacer Advisors Inc. Reduces Stock Holdings in Fortive Corporation $FTV

Pacer Advisors Inc. reduced its position in shares of Fortive Corporation (NYSE:FTV) by 62.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,198,695 shares of the technology company’s stock after selling 2,023,604 shares during the quarter. Pacer Advisors Inc.’s holdings in Fortive were worth $66,180,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Dodge & Cox grew its stake in shares of Fortive by 28.4% in the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock valued at $2,086,768,000 after buying an additional 9,422,189 shares during the period. Norges Bank purchased a new stake in shares of Fortive during the 4th quarter valued at approximately $491,928,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Fortive by 102,687.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,487,060 shares of the technology company’s stock valued at $413,361,000 after buying an additional 7,479,776 shares during the period. Viking Global Investors LP lifted its holdings in 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 acquiring an additional 4,571,056 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Fortive by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock valued at $1,106,760,000 after acquiring an additional 4,532,031 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Performance

Shares of FTV stock opened at $61.05 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 firm has a market cap of $18.61 billion, a P/E ratio of 36.56 and a beta of 1.06. The firm’s 50 day moving average price is $60.18 and its 200-day moving average price is $57.29. Fortive Corporation has a one year low of $46.34 and a one year high of $71.85.

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 the consensus estimate of $0.64 by $0.06. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, equities research analysts predict that Fortive Corporation will post 2.97 EPS for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 22nd. Fortive’s dividend payout ratio (DPR) is currently 14.37%.

Fortive declared that its board has authorized a stock repurchase plan on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FTV. Citigroup raised their target price on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Zacks Research cut Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company raised their price objective on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.62.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction on 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 completion of the sale, the senior vice president directly owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.