Redwood Investment Management LLC Makes New $2.19 Million Investment in Fortive Corporation $FTV

Key Points

• Redwood Investment Management initiated a $2.19 million position in Fortive, purchasing 35,784 shares during the second quarter. Institutional investors collectively own 94.94% of Fortive’s stock.
• Fortive exceeded quarterly earnings and revenue expectations, reporting $0.74 EPS and $1.10 billion in revenue, while revenue increased 8% year over year. The company also raised its quarterly dividend to $0.07 per share and authorized repurchases of up to 20 million shares.
• Analysts maintain a consensus “Hold” rating with an average price target of $63.10, compared with shares trading around $60.30; targets from individual firms range from $63 to $68.

Redwood Investment Management LLC bought a new stake in shares of Fortive Corporation (NYSE:FTV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,784 shares of the technology company's stock, valued at approximately $2,186,000.

Other large investors have also added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new position in shares of Fortive during the 2nd quarter valued at $8,694,000. Bank of America Corp DE bought a new position in Fortive during the second quarter valued at approximately $87,260,000. Freestone Grove Partners LP bought a new position in shares of Fortive during the 2nd quarter valued at approximately $17,073,000. Caisse de depot et placement du Quebec purchased a new stake in Fortive during the second quarter valued at $60,660,000. Finally, Man Group plc bought a new position in Fortive during the second quarter valued at $1,322,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Trading Up 1.3%

Shares of NYSE FTV opened at $60.30 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $61.12 and a two-hundred day simple moving average of $59.47. The firm has a market cap of $18.21 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 2.47 and a beta of 1.06. 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 issued its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Analysts expect that Fortive Corporation will post 3.02 earnings per share for the current fiscal year.

Fortive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.07 per share. This is an increase from Fortive's previous quarterly dividend of $0.06. The ex-dividend date is Friday, September 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Fortive's dividend payout ratio (DPR) is currently 14.20%.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on FTV. Wells Fargo & Company boosted their target price on shares of Fortive from $58.00 to $65.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Citigroup increased their price target on shares of Fortive from $64.00 to $65.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Royal Bank Of Canada lifted their price target on Fortive from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Friday, May 1st. Truist Financial reissued a "hold" rating and set a $68.00 price objective (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Finally, Argus restated a "buy" rating and set a $68.00 price objective on shares of Fortive in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $63.10.

Insider Activity at Fortive

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

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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