Nolet Wealth Management LLC Takes $629,000 Position in Fortive Corporation $FTV

Nolet Wealth Management LLC bought a new position in Fortive Corporation (NYSE:FTV) during the 4th quarter, HoldingsChannel reports. The fund bought 11,400 shares of the technology company’s stock, valued at approximately $629,000.

Other hedge funds have also made changes to their positions in the company. Dodge & Cox boosted its position in Fortive by 3.7% in the fourth 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 in the last quarter. Viking Global Investors LP increased its holdings in shares of Fortive by 28.7% during the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock worth $1,003,495,000 after buying an additional 4,571,056 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Fortive by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock worth $1,106,760,000 after buying an additional 4,532,031 shares in the last quarter. Norges Bank bought a new position in shares of Fortive in the fourth quarter valued at approximately $491,928,000. Finally, Geode Capital Management LLC raised its stake in shares of Fortive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,787,747 shares of the technology company’s stock valued at $483,327,000 after acquiring an additional 116,939 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup increased their price target on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Morgan Stanley lifted their price objective on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Finally, Truist Financial reaffirmed a “hold” rating and issued a $61.00 price target (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.62.

Fortive Stock Performance

FTV stock opened at $61.05 on Friday. The company has a 50 day moving average price of $60.18 and a 200 day moving average price of $57.29. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $71.85. 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 stock has a market capitalization of $18.61 billion, a PE ratio of 36.56 and a beta of 1.06.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The firm 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%.The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Analysts forecast that Fortive Corporation will post 2.97 EPS for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 22nd. Fortive’s dividend payout ratio is 14.37%.

Fortive declared that its board has initiated a share repurchase plan on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, the senior vice president owned 87,780 shares in the company, valued at $5,337,901.80. This trade represents a 35.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

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.