GSA Capital Partners LLP Invests $1.08 Million in Fortive Corporation $FTV

GSA Capital Partners LLP purchased a new position in Fortive Corporation (NYSE:FTV) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 17,713 shares of the technology company’s stock, valued at approximately $1,082,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. DV Equities LLC acquired a new position in shares of Fortive during the fourth quarter valued at approximately $25,000. Root Financial Partners LLC increased its position in shares of Fortive by 43.6% during the 4th 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 period. Main Street Group LTD acquired a new position in shares of Fortive during the 1st quarter valued at $31,000. Geneos Wealth Management Inc. raised 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 worth $37,000 after buying an additional 357 shares in the last quarter. Finally, Dakota Community Bank & Trust NA raised its stake in shares of Fortive by 59.2% in the 1st quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock worth $39,000 after buying an additional 261 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings raised Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Wells Fargo & Company boosted their price target on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Citigroup upped their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Royal Bank Of Canada raised their price objective on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Finally, Truist Financial reaffirmed 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 investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Hold” and an average target price of $63.10.

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 8,662 shares of the business’s stock in a transaction that occurred 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 approximately $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Fortive Price Performance

FTV opened at $60.60 on Tuesday. The stock has a fifty day moving average of $61.26 and a 200-day moving average of $59.25. The firm has a market capitalization of $18.30 billion, a P/E ratio of 35.86 and a beta of 1.06. Fortive Corporation has a 12-month low of $46.54 and a 12-month 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.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Equities analysts forecast that Fortive Corporation will post 3.01 EPS for the current fiscal year.

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 dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 22nd. Fortive’s dividend payout ratio (DPR) is currently 14.20%.

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 shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.