North Dakota State Investment Board Buys Shares of 11,643 Fortive Corporation $FTV

North Dakota State Investment Board bought a new stake in Fortive Corporation (NYSE:FTV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,643 shares of the technology company’s stock, valued at approximately $643,000.

A number of other hedge funds also recently modified their holdings of FTV. Dodge & Cox raised its position in shares of Fortive by 28.4% during the third quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock worth $2,086,768,000 after purchasing an additional 9,422,189 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Fortive by 102,687.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,487,060 shares of the technology company’s stock worth $413,361,000 after purchasing an additional 7,479,776 shares during the last quarter. Viking Global Investors LP increased its position in shares of Fortive by 28.7% during the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after purchasing an additional 4,571,056 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Fortive by 55.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock worth $426,699,000 after acquiring an additional 3,096,711 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Fortive by 205.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,719,200 shares of the technology company’s stock worth $182,204,000 after acquiring an additional 2,502,300 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 0.0%

Shares of Fortive stock opened at $59.06 on Friday. Fortive Corporation has a one year low of $46.34 and a one year high of $73.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The stock’s 50-day moving average is $58.16 and its 200 day moving average is $56.07. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 3.17 and a beta of 1.09.

Fortive (NYSE:FTV) last announced 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. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts anticipate that Fortive Corporation will post 2.96 EPS for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, March 13th. Fortive’s dividend payout ratio (DPR) is currently 14.37%.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FTV. Wells Fargo & Company boosted their price target on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their price target on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Zacks Research cut Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Morgan Stanley boosted their price target on Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Finally, Barclays upped their target price on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.54.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by corporate insiders.

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.