Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Fortive Corporation $FTV

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Fortive Corporation (NYSE:FTV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 719,697 shares of the technology company’s stock, valued at approximately $43,966,000.

Other hedge funds also recently added to or reduced their stakes in the company. DV Equities LLC purchased a new stake in shares of Fortive in the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its holdings in Fortive by 246.2% during 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 during the period. Root Financial Partners LLC grew its stake in Fortive by 43.6% in the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after purchasing an additional 168 shares during the last quarter. Main Street Group LTD purchased a new position in shares of Fortive in the 1st quarter worth approximately $31,000. Finally, Dakota Community Bank & Trust NA increased its position in shares of Fortive by 59.2% during the first quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock worth $39,000 after purchasing an additional 261 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Fortive Price Performance

Shares of Fortive stock opened at $58.93 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58. Fortive Corporation has a twelve month low of $46.54 and a twelve month high of $64.56. The business has a 50-day moving average price of $61.17 and a 200 day moving average price of $59.34. The firm has a market cap of $17.80 billion, a PE ratio of 34.87 and a beta of 1.06.

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

Fortive announced that its board has approved 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. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 22nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 22nd. Fortive’s payout ratio is presently 14.20%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FTV shares. Wells Fargo & Company lifted their target price on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Morgan Stanley raised their target price on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Truist Financial restated a “hold” rating and set a $68.00 target price (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Royal Bank Of Canada upped their price target on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Argus reaffirmed a “buy” rating and set a $68.00 price target on shares of Fortive in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.10.

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.