Commerce Bank Makes New $2.27 Million Investment in Fortive Corporation $FTV

Commerce Bank bought a new position in shares of Fortive Corporation (NYSE:FTV) in the 2nd quarter, HoldingsChannel reports. The fund bought 37,132 shares of the technology company’s stock, valued at approximately $2,268,000.

Several other large investors have also bought and sold shares of FTV. Brighton Jones LLC grew its holdings in shares of Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after acquiring an additional 2,811 shares in the last quarter. Empowered Funds LLC boosted its position in Fortive by 6.9% in the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after purchasing an additional 430 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in 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 purchasing an additional 357 shares during the period. EverSource Wealth Advisors LLC grew its stake in Fortive by 87.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock valued at $118,000 after purchasing an additional 1,062 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Fortive by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock valued at $4,201,000 after purchasing an additional 2,548 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

NYSE FTV opened at $60.45 on Tuesday. The company has a market cap of $18.26 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.49 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 quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $61.16 and its two-hundred day simple moving average is $59.48.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Research analysts predict that Fortive Corporation will post 3.02 earnings per share for the current year.

Fortive announced that its Board of Directors has authorized a share repurchase plan on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Fortive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.07 per share. This is a positive change from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. Fortive’s dividend payout ratio is 14.20%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FTV shares. Weiss Ratings upgraded shares of Fortive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Wells Fargo & Company increased their target price 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. Morgan Stanley raised their price target on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Argus reaffirmed a “buy” rating and issued a $68.00 price target on shares of Fortive in a report on Wednesday, August 19th. Finally, Truist Financial reiterated a “hold” rating and issued a $68.00 price objective (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.10.

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.