Squarepoint Ops LLC increased its stake in Fortive Corporation (NYSE:FTV - Free Report) by 684.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,371 shares of the technology company's stock after purchasing an additional 57,040 shares during the period. Squarepoint Ops LLC's holdings in Fortive were worth $3,994,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Dodge & Cox lifted its position in Fortive by 3.7% during the fourth quarter. Dodge & Cox now owns 44,157,822 shares of the technology company's stock worth $2,437,953,000 after purchasing an additional 1,562,028 shares during the period. California State Teachers Retirement System increased its holdings in Fortive by 3,895.4% in the 2nd quarter. California State Teachers Retirement System now owns 27,805,114 shares of the technology company's stock valued at $1,698,614,000 after buying an additional 27,109,194 shares during the period. BlackRock Inc. acquired a new position in shares of Fortive in the 2nd quarter valued at approximately $1,626,463,000. Viking Global Investors LP raised its position in shares of Fortive by 28.7% in the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company's stock valued at $1,003,495,000 after buying an additional 4,571,056 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Fortive by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company's stock worth $1,106,760,000 after acquiring an additional 4,532,031 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.
Insider Buying and Selling at Fortive
In related news, SVP Peter C. Underwood sold 8,662 shares of the business's 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 sale, the senior vice president owned 79,118 shares in the company, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 3rd. Weiss Ratings downgraded Fortive from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, August 27th. Truist Financial reissued a "hold" rating and set a $68.00 price target (up from $67.00) on shares of Fortive in a report 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 research 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.10.
Check Out Our Latest Stock Report on Fortive
Fortive Price Performance
FTV stock opened at $54.69 on Friday. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of 32.36, a P/E/G ratio of 2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. The company has a 50 day simple moving average of $60.08 and a 200 day simple moving average of $59.35. Fortive Corporation has a 1 year low of $47.31 and a 1 year 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 for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. The firm 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 quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Research analysts anticipate that Fortive Corporation will post 3.02 EPS for the current fiscal year.
Fortive Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.07 per share. This is a positive change from Fortive's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. Fortive's dividend payout ratio (DPR) is 16.57%.
About Fortive
(
Free Report)
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.
Further Reading
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