95,884 Shares in Fortive Corporation $FTV Purchased by Westpac Banking Corp

Westpac Banking Corp bought a new stake in shares of Fortive Corporation (NYSE:FTV) in the first quarter, Holdings Channel reports. The fund bought 95,884 shares of the technology company’s stock, valued at approximately $5,300,000.

Several other large investors have also recently made changes to their positions in FTV. DV Equities LLC purchased a new stake in shares of Fortive in the 4th quarter worth approximately $25,000. Root Financial Partners LLC raised its stake 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 purchased a new position in Fortive during the first quarter valued at $31,000. Geneos Wealth Management Inc. boosted its holdings 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 in the last quarter. Finally, Dorato Capital Management bought a new stake in Fortive in the fourth quarter worth $45,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

FTV stock opened at $60.68 on Wednesday. The stock has a market capitalization of $18.50 billion, a PE ratio of 36.33 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 company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $60.69 and its 200 day simple moving average is $58.40.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts forecast that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive Dividend Announcement

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

Fortive announced that its Board of Directors has initiated a share repurchase plan on Monday, May 4th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FTV. JPMorgan Chase & Co. increased their target price on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Morgan Stanley lifted their price target on Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company increased their price objective on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Two 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.00.

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction dated 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 in the company, valued at approximately $5,337,901.80. This trade represents a 35.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.