Allstate Corp Makes New $562,000 Investment in Fortive Corporation $FTV

Allstate Corp bought a new position in shares of Fortive Corporation (NYSE:FTV) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,464 shares of the technology company’s stock, valued at approximately $562,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Dodge & Cox lifted its holdings in Fortive by 51.5% during the 2nd quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after buying an additional 11,273,242 shares in the last quarter. Norges Bank purchased a new position in shares of Fortive during the second quarter worth approximately $357,602,000. Viking Global Investors LP increased its position in shares of Fortive by 22.9% during the second quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock worth $829,525,000 after acquiring an additional 2,962,502 shares during the period. Pacer Advisors Inc. raised its stake in shares of Fortive by 132.8% during the third quarter. Pacer Advisors Inc. now owns 3,222,299 shares of the technology company’s stock valued at $157,860,000 after acquiring an additional 1,838,120 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Fortive by 24.6% in the second quarter. Invesco Ltd. now owns 7,010,216 shares of the technology company’s stock valued at $365,443,000 after purchasing an additional 1,383,254 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

NYSE FTV opened at $54.71 on Friday. The firm’s fifty day simple moving average is $54.17 and its two-hundred day simple moving average is $51.03. The firm has a market capitalization of $17.38 billion, a P/E ratio of 31.26, a P/E/G ratio of 3.05 and a beta of 1.13. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. Analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, November 28th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s payout ratio is presently 13.71%.

Insider Activity

In other news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares in the company, valued at $2,995,220.80. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FTV shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research report on Monday, December 29th. Truist Financial restated a “hold” rating and set a $58.00 price target (up previously from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Barclays lifted their price objective on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Mizuho reiterated an “underperform” rating and set a $51.00 target price (down from $54.00) on shares of Fortive in a report on Monday, January 5th. Finally, Robert W. Baird boosted their price target on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.77.

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.