381,449 Shares in Fortive Corporation $FTV Purchased by Congruence Capital LLC

Key Points

• Congruence Capital LLC disclosed a new fourth-quarter position in Fortive, buying 381,449 shares valued at about $21.1 million. The stake made Fortive its largest holding, representing 7.7% of the fund’s portfolio.
• Fortive reported better-than-expected quarterly earnings, with EPS of $0.70 versus estimates of $0.64 and revenue of $2.14 billion. The company also issued FY 2026 EPS guidance of $2.90 to $3.00.
• The company’s board authorized a 20 million-share buyback and recently declared a quarterly dividend of $0.06 per share. Analyst sentiment remains cautious overall, with a consensus rating of Hold and an average target price of $61.62.

Congruence Capital LLC purchased a new position in shares of Fortive Corporation (NYSE:FTV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 381,449 shares of the technology company's stock, valued at approximately $21,060,000. Fortive comprises 7.7% of Congruence Capital LLC's portfolio, making the stock its biggest position. Congruence Capital LLC owned about 0.12% of Fortive at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC raised its stake in Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company's stock worth $31,000 after purchasing an additional 168 shares during the period. Geneos Wealth Management Inc. raised its stake 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 purchasing an additional 357 shares during the period. Dorato Capital Management purchased a new position in Fortive during the fourth quarter worth about $45,000. Hantz Financial Services Inc. raised its stake in Fortive by 149.3% during the fourth quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company's stock worth $47,000 after purchasing an additional 506 shares during the period. Finally, Dunhill Financial LLC raised its stake in Fortive by 8,300.0% during the third quarter. Dunhill Financial LLC now owns 1,008 shares of the technology company's stock worth $49,000 after purchasing an additional 996 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $60.81, for a total value of $2,891,941.17. Following the sale, the senior vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on FTV shares. Citigroup lifted their target price on shares of Fortive from $64.00 to $65.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fortive in a research note on Friday, May 22nd. Morgan Stanley lifted their target price 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. Zacks Research downgraded shares of Fortive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Finally, Truist Financial reaffirmed a "hold" rating and set a $61.00 target price (up from $56.00) on shares of Fortive in a research note on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $61.62.

Fortive Price Performance

Fortive stock opened at $60.15 on Friday. The company's 50 day simple moving average is $59.82 and its 200-day simple moving average is $57.05. The company has a market capitalization of $18.34 billion, a price-to-earnings ratio of 36.02 and a beta of 1.06. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $71.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, equities research analysts expect that Fortive Corporation will post 2.97 earnings per share for the current year.

Fortive announced that its Board of Directors has authorized a stock repurchase program on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be paid 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 of this dividend is Monday, June 22nd. Fortive's payout ratio is 14.37%.

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.

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