Wealthfront Advisers LLC Makes New Investment in Fortive Corporation $FTV

Wealthfront Advisers LLC bought a new position in Fortive Corporation (NYSE:FTV - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 92,714 shares of the technology company's stock, valued at approximately $5,664,000.

Other large investors have also recently modified their holdings of the company. Citizens Financial Group Inc. RI purchased a new position in shares of Fortive during the second quarter valued at about $329,000. BlackRock Inc. purchased a new stake in Fortive in the second quarter worth about $1,626,463,000. Dunhill Financial LLC bought a new stake in Fortive during the 2nd quarter valued at approximately $62,000. Deutsche Bank AG purchased a new position in shares of Fortive during the 2nd quarter worth approximately $99,326,000. Finally, Trust Co. of Vermont purchased a new position in shares of Fortive during the 2nd quarter worth approximately $103,000. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FTV. Citigroup raised their target price on Fortive from $64.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Weiss Ratings upgraded Fortive from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 12th. Argus reissued a "buy" rating and set a $68.00 price objective on shares of Fortive in a research report on Wednesday. Morgan Stanley upped their target price on shares of Fortive from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Fortive from $63.00 to $64.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 12th. Two investment 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, the stock has a consensus rating of "Hold" and an average price target of $63.10.

Insider Transactions at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the company's 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 transaction, the senior vice president owned 79,118 shares in the company, valued at approximately $4,872,877.62. This represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company's stock.

Fortive Stock Up 0.9%

Shares of NYSE:FTV opened at $59.41 on Friday. The stock has a fifty day simple moving average of $61.16 and a two-hundred day simple moving average of $59.39. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 35.15 and a beta of 1.06. Fortive Corporation has a 12-month low of $46.54 and a 12-month high of $64.56. 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 released its 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. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior 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 anticipate that Fortive Corporation will post 3.01 earnings per share for the current fiscal year.

Fortive Increases Dividend

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

Fortive declared that its Board of Directors has authorized a share repurchase program on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Fortive Company 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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