57,814 Shares in Fortive Corporation $FTV Acquired by Osmosis Investment Management UK Ltd

Osmosis Investment Management UK Ltd bought a new stake in shares of Fortive Corporation (NYSE:FTV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 57,814 shares of the technology company's stock, valued at approximately $3,532,000.

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Fortive in the second quarter worth about $415,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Fortive in the 2nd quarter worth about $204,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Fortive in the 2nd quarter worth about $527,526,000. First Nebraska Trust Co purchased a new stake in shares of Fortive during the 2nd quarter worth about $2,687,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Fortive during the 2nd quarter worth about $13,162,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Up 0.1%

FTV opened at $60.14 on Monday. The firm has a market cap of $18.16 billion, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. The business has a 50 day moving average price of $61.16 and a 200 day moving average price of $59.43. Fortive Corporation has a twelve month low of $46.54 and a twelve month high of $64.56.

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

Fortive declared that its board has approved a stock buyback plan on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

Fortive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.07 dividend. This is a boost from Fortive's previous quarterly dividend of $0.06. The ex-dividend date is Friday, September 4th. This represents a $0.28 annualized dividend and a yield of 0.5%. Fortive's payout ratio is 14.20%.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the business's 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 completion of the transaction, the senior vice president owned 79,118 shares of the company's stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FTV. Citigroup lifted their price target on Fortive from $64.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Morgan Stanley raised their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 3rd. Wells Fargo & Company lifted their target price on shares of Fortive from $58.00 to $65.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Fortive from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Finally, Argus restated a "buy" rating and set a $68.00 price target on shares of Fortive in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $63.10.

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.

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corporation (NYSE:FTV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source