Renaissance Technologies LLC Purchases 177,300 Shares of Fortive Corporation $FTV

Renaissance Technologies LLC raised its position in shares of Fortive Corporation (NYSE:FTV) by 18.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,128,600 shares of the technology company’s stock after purchasing an additional 177,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Fortive were worth $62,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FTV. DV Equities LLC purchased a new position in shares of Fortive in the fourth quarter worth approximately $25,000. Root Financial Partners LLC increased its holdings 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 buying an additional 168 shares during the last quarter. Main Street Group LTD bought a new position in Fortive in the first quarter worth approximately $31,000. Geneos Wealth Management Inc. raised 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 worth $37,000 after acquiring an additional 357 shares during the period. Finally, Dorato Capital Management purchased a new position in shares of Fortive during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on FTV shares. Wells Fargo & Company upped their price objective on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. Truist Financial upped their price target on Fortive from $61.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Monday, May 11th. Finally, Zacks Research downgraded Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Hold” and an average target price of $63.00.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the 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 sale, the senior vice president owned 87,780 shares in the company, valued at $5,337,901.80. This trade represents a 35.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by company insiders.

Fortive Stock Performance

Shares of NYSE:FTV opened at $62.39 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $18.87 billion, a price-to-earnings ratio of 37.36 and a beta of 1.06. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $64.33. The firm’s 50-day moving average is $60.82 and its 200 day moving average is $58.54.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts predict that Fortive Corporation will post 2.98 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 22nd were issued a dividend of $0.06 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s payout ratio is presently 14.37%.

Fortive declared that its board has approved a stock buyback program on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.