State of Wyoming Invests $514,000 in Fortive Corporation $FTV

State of Wyoming bought a new position in Fortive Corporation (NYSE:FTV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,407 shares of the technology company’s stock, valued at approximately $514,000.

Other institutional investors have also added to or reduced their stakes in the company. DV Equities LLC bought a new position in shares of Fortive during the 4th quarter valued at about $25,000. Root Financial Partners LLC lifted its position in Fortive by 43.6% in the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Main Street Group LTD bought a new stake in Fortive in the 1st quarter worth approximately $31,000. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 357 shares in the last quarter. Finally, Dakota Community Bank & Trust NA boosted its stake in Fortive by 59.2% in the first quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock worth $39,000 after buying an additional 261 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

FTV stock opened at $60.60 on Tuesday. The firm has a 50 day moving average price of $61.26 and a 200-day moving average price of $59.25. The firm has a market capitalization of $18.30 billion, a price-to-earnings ratio of 35.86 and a beta of 1.06. Fortive Corporation has a 52-week low of $46.54 and a 52-week high of $64.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. 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. Equities research analysts forecast that Fortive Corporation will post 3.01 EPS for the current fiscal year.

Fortive announced that its Board of Directors has approved a stock repurchase plan on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 22nd were paid 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 was Monday, June 22nd. Fortive’s dividend payout ratio (DPR) is currently 14.20%.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FTV shares. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on shares of Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Citigroup boosted their price target on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Zacks Research lowered shares of Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Truist Financial reaffirmed a “hold” rating and set a $68.00 price objective (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Two equities 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.10.

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.