UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Fortive Corporation $FTV

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Fortive Corporation (NYSE:FTV) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,129,457 shares of the technology company’s stock after selling 78,324 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.37% of Fortive worth $252,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FTV. Dodge & Cox grew its holdings in Fortive by 3.7% during 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 in the last quarter. BlackRock Inc. purchased a new stake in shares of Fortive during the 2nd quarter worth approximately $1,626,463,000. Viking Global Investors LP boosted its position in shares of Fortive by 28.7% during the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after acquiring an additional 4,571,056 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 purchasing an additional 4,532,031 shares in the last quarter. Finally, Flossbach Von Storch SE purchased a new position in shares of Fortive in the second quarter valued at $739,668,000. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the company’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 transaction, the senior vice president directly owned 79,118 shares in the company, valued at $4,872,877.62. This represents a 9.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FTV shares. JPMorgan Chase & Co. boosted their price target on shares of Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Morgan Stanley lifted their price objective on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Argus restated a “buy” rating and issued a $68.00 target price on shares of Fortive in a report on Wednesday, August 19th. Truist Financial restated a “hold” rating and set a $68.00 target price (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Finally, Weiss Ratings cut shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.10.

Fortive Trading Down 1.4%

FTV opened at $58.86 on Tuesday. The stock’s 50 day moving average price is $61.01 and its 200-day moving average price is $59.44. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 2.47 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. Fortive Corporation has a one year low of $46.54 and a one year high of $64.56.

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

Fortive announced that its Board of Directors has initiated a share repurchase plan on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Fortive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.07 dividend. This is a positive change from Fortive’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.28 annualized dividend and a yield of 0.5%. Fortive’s dividend payout ratio is presently 14.20%.

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.