Mitsubishi UFJ Asset Management Co. Ltd. Acquires 55,424 Shares of Fortive Corporation $FTV

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Fortive Corporation (NYSE:FTV) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 697,308 shares of the technology company’s stock after buying an additional 55,424 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.22% of Fortive worth $34,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of FTV. True Wealth Design LLC grew its holdings in Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after purchasing an additional 424 shares during the period. Quent Capital LLC acquired a new position in shares of Fortive during the third quarter valued at about $28,000. Exchange Traded Concepts LLC boosted its position in shares of Fortive by 46.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock worth $36,000 after purchasing an additional 236 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after buying an additional 357 shares during the period. Finally, J.Safra Asset Management Corp increased its position in Fortive by 71.1% in the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock valued at $38,000 after buying an additional 325 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock opened at $59.17 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. The firm has a 50-day moving average of $56.11 and a 200-day moving average of $52.33. Fortive Corporation has a one year low of $46.34 and a one year high of $80.74. The company has a market cap of $18.22 billion, a P/E ratio of 34.20, a P/E/G ratio of 3.20 and a beta of 1.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Fortive’s dividend payout ratio (DPR) is presently 13.87%.

Analysts Set New Price Targets

FTV has been the topic of several recent research reports. Zacks Research upgraded Fortive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Mizuho reiterated an “underperform” rating and issued a $51.00 target price (down from $54.00) on shares of Fortive in a report on Monday, January 5th. Morgan Stanley lifted their price target on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Barclays upped their price objective on shares of Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Finally, Wells Fargo & Company raised their price objective on shares of Fortive from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortive has an average rating of “Hold” and an average price target of $60.85.

Insider Buying and Selling

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total value of $416,022.54. Following the transaction, the director owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. The trade was a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% 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.