Fortive Corporation $FTV Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in shares of Fortive Corporation (NYSE:FTV - Free Report) by 3,895.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,805,114 shares of the technology company's stock after purchasing an additional 27,109,194 shares during the period. California State Teachers Retirement System owned 9.21% of Fortive worth $1,698,614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. DV Equities LLC acquired a new position in Fortive in the 4th quarter valued at $25,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Fortive in the second quarter valued at about $30,000. Virtus Advisers LLC purchased a new position in shares of Fortive in the second quarter worth about $30,000. Geneos Wealth Management Inc. boosted its position 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 acquiring an additional 357 shares during the last quarter. Finally, Root Financial Partners LLC grew its stake in 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 acquiring an additional 168 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the completion of the sale, the senior vice president directly owned 79,118 shares of the company's stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

FTV has been the subject of several analyst reports. Argus restated a "buy" rating and issued a $68.00 target price on shares of Fortive in a report on Wednesday, August 19th. Morgan Stanley boosted their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, June 3rd. Truist Financial reaffirmed a "hold" rating and set a $68.00 price objective (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Finally, Weiss Ratings cut Fortive from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. 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. Based on data from MarketBeat, Fortive currently has an average rating of "Hold" and a consensus target price of $63.10.

Fortive Price Performance

Shares of NYSE FTV opened at $54.69 on Friday. The stock has a market cap of $16.52 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.26 and a beta of 1.05. Fortive Corporation has a twelve month low of $47.31 and a twelve month high of $64.56. The stock has a 50 day moving average of $60.08 and a two-hundred day moving average of $59.35. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

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

Fortive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Fortive's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Fortive's dividend payout ratio is presently 16.57%.

Fortive Company Profile

Fortive Corporation NYSE: FTV is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive's portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.

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