Fortive Corporation $FTV Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Fortive Corporation (NYSE:FTV) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 580,757 shares of the technology company’s stock after selling 26,141 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Fortive worth $32,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its holdings in shares of Fortive by 43.6% in the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after purchasing an additional 168 shares during the period. Rothschild Investment LLC grew its holdings in shares of Fortive by 20.5% during the 4th quarter. Rothschild Investment LLC now owns 1,113 shares of the technology company’s stock worth $61,000 after purchasing an additional 189 shares during the period. Empowered Funds LLC increased its position in Fortive by 2.3% during the 4th quarter. Empowered Funds LLC now owns 8,733 shares of the technology company’s stock worth $482,000 after purchasing an additional 197 shares in the last quarter. Park Avenue Securities LLC increased its position in Fortive by 2.5% during the 4th quarter. Park Avenue Securities LLC now owns 8,401 shares of the technology company’s stock worth $464,000 after purchasing an additional 208 shares in the last quarter. Finally, Clearstead Trust LLC raised its holdings in Fortive by 29.8% in the fourth quarter. Clearstead Trust LLC now owns 953 shares of the technology company’s stock valued at $53,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FTV. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, May 11th. Morgan Stanley upped their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Truist Financial raised their price objective on Fortive from $61.00 to $67.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company upped their target price on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortive has an average rating of “Hold” and a consensus target price of $63.00.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. This represents a 35.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Fortive Stock Down 0.5%

Shares of Fortive stock opened at $60.68 on Wednesday. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $64.33. The company has a market capitalization of $18.50 billion, a PE ratio of 36.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The business has a 50-day moving average of $60.69 and a 200-day moving average of $58.40.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.Fortive’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, equities analysts forecast that Fortive Corporation will post 2.97 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 22nd were given a $0.06 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s dividend payout ratio (DPR) is presently 14.37%.

Fortive declared that its board has approved a stock buyback plan on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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.