Korea Investment CORP Takes Position in Fortive Corporation $FTV

Key Points

• Korea Investment Corp. acquired 135,669 Fortive shares worth approximately $8.3 million in the second quarter, while institutional investors collectively own 94.94% of the company.
• Analysts maintain a consensus “Hold” rating on Fortive, with an average price target of $63.10; recent targets range from $63 to $68.
• Fortive exceeded quarterly earnings and revenue estimates, increased its quarterly dividend to $0.07 per share, and authorized a buyback of up to 20 million shares.

Korea Investment CORP purchased a new position in shares of Fortive Corporation (NYSE:FTV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 135,669 shares of the technology company's stock, valued at approximately $8,288,000.

Other institutional investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new stake in Fortive in the 4th quarter valued at $20,387,000. WINTON GROUP Ltd bought a new position in Fortive during the fourth quarter worth $6,729,000. ABN Amro Investment Solutions acquired a new position in shares of Fortive in the fourth quarter valued at $1,229,000. Hsbc Holdings PLC increased its holdings in shares of Fortive by 7.0% in the fourth quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company's stock valued at $112,066,000 after purchasing an additional 133,447 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Fortive in the first quarter valued at about $11,854,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Fortive from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Weiss Ratings raised shares of Fortive from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Truist Financial restated 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. Wells Fargo & Company boosted their price objective on Fortive from $58.00 to $65.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Finally, Argus reaffirmed a "buy" rating and issued a $68.00 target price on shares of Fortive in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $63.10.

Fortive Trading Up 0.6%

Shares of Fortive stock opened at $60.45 on Tuesday. The firm has a 50-day moving average of $61.16 and a 200-day moving average of $59.48. The stock has a market cap of $18.26 billion, a PE ratio of 35.77, a PEG ratio of 2.49 and a beta of 1.06. Fortive Corporation has a 52-week low of $46.54 and a 52-week high of $64.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $0.90 earnings per share. Fortive'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. As a group, sell-side analysts forecast that Fortive Corporation will post 3.02 EPS for the current year.

Fortive Increases Dividend

The firm 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 dividend of $0.07 per share. This is a boost from Fortive's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. Fortive's payout ratio is 14.20%.

Fortive declared that its Board of Directors has authorized a stock buyback plan on Monday, May 4th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the sale, the senior vice president directly owned 79,118 shares in the company, valued at approximately $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company's stock.

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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