The Manufacturers Life Insurance Company Has $306.76 Million Stock Holdings in Fortive Corporation $FTV

The Manufacturers Life Insurance Company lowered its holdings in shares of Fortive Corporation (NYSE:FTV) by 1.4% in the first quarter, HoldingsChannel reports. The firm owned 5,549,292 shares of the technology company’s stock after selling 77,579 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fortive were worth $306,765,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its stake in Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after buying an additional 2,811 shares during the period. Empowered Funds LLC boosted its stake in shares of Fortive by 6.9% during the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after acquiring an additional 430 shares during the period. Geneos Wealth Management Inc. boosted 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 acquiring an additional 357 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Fortive by 87.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Fortive by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock worth $4,201,000 after acquiring an additional 2,548 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FTV. Zacks Research downgraded Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Royal Bank Of Canada lifted their target price on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Fortive presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Fortive Stock Up 0.9%

NYSE:FTV opened at $62.85 on Tuesday. Fortive Corporation has a one year low of $46.34 and a one year high of $64.33. 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 company has a market cap of $19.00 billion, a PE ratio of 37.63 and a beta of 1.06. The firm’s 50 day simple moving average is $60.89 and its 200 day simple moving average is $58.59.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, research analysts anticipate that Fortive Corporation will post 2.98 earnings per share for the current year.

Fortive Dividend Announcement

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

Fortive announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 4th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are typically 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 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 completion of the transaction, the senior vice president directly owned 87,780 shares of the company’s stock, valued at $5,337,901.80. This trade represents a 35.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.