Oppenheimer Asset Management Inc. Acquires Shares of 15,358 Fortive Corporation $FTV

Oppenheimer Asset Management Inc. acquired a new stake in Fortive Corporation (NYSE:FTV) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,358 shares of the technology company’s stock, valued at approximately $938,000.

Other hedge funds have also modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fortive in the 4th quarter valued at $20,387,000. WINTON GROUP Ltd bought a new stake in shares of Fortive in the 4th quarter worth about $6,729,000. ABN Amro Investment Solutions acquired a new stake in shares of Fortive during the 4th quarter worth about $1,229,000. Hsbc Holdings PLC increased its position in shares of Fortive by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock worth $112,066,000 after purchasing an additional 133,447 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Fortive by 10.2% during the 4th quarter. UBS Group AG now owns 6,863,651 shares of the technology company’s stock valued at $378,942,000 after purchasing an additional 632,759 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FTV shares. Morgan Stanley boosted their price target on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Monday, May 11th. Wells Fargo & Company lifted their target price on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Citigroup boosted their target price on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Fortive presently has an average 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 the company’s 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 transaction, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by company insiders.

Fortive Price Performance

FTV opened at $61.56 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. The stock has a market capitalization of $18.59 billion, a P/E ratio of 36.43 and a beta of 1.06. The company’s 50 day simple moving average is $61.27 and its 200-day simple moving average is $59.20. Fortive Corporation has a one year low of $46.54 and a one year high of $64.56.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $0.90 EPS. Fortive’s revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Sell-side analysts anticipate that Fortive Corporation will post 3.01 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 22nd were given 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 dividend yield of 0.4%. Fortive’s payout ratio is presently 14.20%.

Fortive announced that its Board of Directors has authorized a stock buyback program on Monday, May 4th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

About Fortive

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.