132,798 Shares in Fortive Corporation $FTV Purchased by Qsemble Capital Management LP

Key Points

• Qsemble Capital Management LP opened a new position in Fortive, buying 132,798 shares valued at about $7.33 million in the fourth quarter.
• Several other institutional investors also boosted holdings, and institutions now own 94.94% of Fortive’s stock, showing heavy professional ownership.
• Fortive reported better-than-expected quarterly earnings of $0.70 per share and announced a 20 million-share buyback, while analysts currently rate the stock a consensus Hold with an average target price of $61.54.

Qsemble Capital Management LP bought a new position in Fortive Corporation (NYSE:FTV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 132,798 shares of the technology company's stock, valued at approximately $7,332,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dodge & Cox increased its stake in Fortive by 28.4% in the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company's stock valued at $2,086,768,000 after buying an additional 9,422,189 shares during the last quarter. Viking Global Investors LP lifted 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 buying an additional 4,571,056 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position 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 buying an additional 3,096,711 shares in the last quarter. Invesco Ltd. lifted its position in shares of Fortive by 7.1% during the 3rd quarter. Invesco Ltd. now owns 7,507,930 shares of the technology company's stock worth $367,814,000 after buying an additional 497,714 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 7,479,776 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity at Fortive

In other news, Director Kate Mitchell sold 7,131 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the completion of the sale, the director owned 31,775 shares in the company, valued at $1,853,753.50. This trade represents a 18.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,891,941.17. Following the sale, the senior vice president owned 87,780 shares of the company's stock, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

FTV has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Fortive from $63.00 to $64.00 and gave the stock an "underweight" rating in a research report on Tuesday. Zacks Research cut shares of Fortive from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 21st. Robert W. Baird set a $65.00 target price on shares of Fortive in a research report on Thursday, February 5th. 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 report on Monday, May 4th. Finally, Barclays lifted their target price on shares of Fortive from $56.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Monday, February 9th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $61.54.

Fortive Trading Down 0.3%

Shares of FTV stock opened at $58.75 on Friday. The company has a 50 day moving average of $58.00 and a 200-day moving average of $55.79. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $73.77. The firm has a market cap of $17.91 billion, a P/E ratio of 35.18, a PEG ratio of 3.17 and a beta of 1.09.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $0.85 EPS. Fortive's quarterly revenue was up 7.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Sell-side analysts anticipate that Fortive Corporation will post 2.96 earnings per share for the current year.

Fortive declared that its board has authorized a share repurchase plan on Monday, May 4th that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Fortive Dividend Announcement

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

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.

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