Caisse de depot et placement du Quebec Purchases New Holdings in Fortive Corporation $FTV

Caisse de depot et placement du Quebec acquired a new position in shares of Fortive Corporation (NYSE:FTV) in the second quarter, Holdings Channel reports. The fund acquired 992,964 shares of the technology company’s stock, valued at approximately $60,660,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dodge & Cox increased its stake in Fortive by 3.7% in the 4th quarter. Dodge & Cox now owns 44,157,822 shares of the technology company’s stock valued at $2,437,953,000 after buying an additional 1,562,028 shares during the period. BlackRock Inc. purchased a new position in Fortive during the second quarter worth about $1,626,463,000. Viking Global Investors LP lifted its position in Fortive by 28.7% in the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after purchasing an additional 4,571,056 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Fortive by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock valued at $1,106,760,000 after acquiring an additional 4,532,031 shares during the period. Finally, Flossbach Von Storch SE acquired a new stake in shares of Fortive during the 2nd quarter valued at approximately $739,668,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Down 0.5%

Shares of FTV opened at $59.93 on Friday. The stock has a market cap of $18.10 billion, a PE ratio of 35.46, a P/E/G ratio of 2.50 and a beta of 1.06. The stock’s 50-day moving average is $61.09 and its two-hundred day moving average is $59.47. Fortive Corporation has a 12 month low of $46.54 and a 12 month high of $64.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00.

Fortive (NYSE:FTV) last posted 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. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Equities analysts forecast that Fortive Corporation will post 3.02 earnings per share for the current fiscal year.

Fortive declared that its Board of Directors has initiated a share buyback program on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Fortive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders 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 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is currently 14.20%.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 8,662 shares of the business’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 completion of the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. The trade was a 9.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FTV has been the topic of several research reports. Royal Bank Of Canada increased their price target on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Wells Fargo & Company raised their price objective on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings upgraded Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Finally, Citigroup increased their target price on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.10.

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.