PDT Partners LLC Makes New Investment in Fortive Corporation $FTV

PDT Partners LLC purchased a new position in shares of Fortive Corporation (NYSE:FTV) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,600 shares of the technology company’s stock, valued at approximately $892,000.

Other institutional investors and hedge funds have also modified their holdings of the company. DV Equities LLC acquired a new stake in Fortive during the fourth quarter worth approximately $25,000. Keating Financial Advisory Services Inc. acquired a new position in Fortive in the 2nd quarter valued at $30,000. Virtus Advisers LLC acquired a new position in Fortive in the 2nd quarter valued at $30,000. Geneos Wealth Management Inc. lifted its stake in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after purchasing an additional 357 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in shares of Fortive by 43.6% during the fourth 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 last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.65% of the stock is owned by corporate insiders.

Fortive Trading Down 0.5%

FTV stock opened at $59.93 on Friday. The company has a market cap of $18.10 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.50 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $61.09 and a 200-day simple moving average of $59.47. Fortive Corporation has a 52 week low of $46.54 and a 52 week high of $64.56.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, equities research analysts expect that Fortive Corporation will post 3.02 EPS for the current year.

Fortive declared that its board has approved a stock buyback plan 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. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Fortive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.07 dividend. This is a positive change from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, September 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 14.20%.

Wall Street Analyst Weigh In

FTV has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Citigroup raised their price target on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Truist Financial restated a “hold” rating and issued a $68.00 price target (up from $67.00) on shares of Fortive in a report on Thursday, July 30th. Wells Fargo & Company upped their price objective on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Morgan Stanley increased their price objective on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.10.

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.