Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Fortive Corporation $FTV

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Fortive Corporation (NYSE:FTV) by 17.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 61,458 shares of the technology company’s stock after acquiring an additional 9,322 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fortive were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dodge & Cox increased its holdings in Fortive by 28.4% during the third quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock valued at $2,086,768,000 after buying an additional 9,422,189 shares during the last quarter. Viking Global Investors LP increased its holdings in Fortive by 28.7% during 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 buying an additional 4,571,056 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Fortive by 55.2% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock valued at $426,699,000 after buying an additional 3,096,711 shares during the last quarter. Invesco Ltd. increased its holdings in Fortive by 7.1% during the third quarter. Invesco Ltd. now owns 7,507,930 shares of the technology company’s stock valued at $367,814,000 after buying an additional 497,714 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Fortive by 205.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,719,200 shares of the technology company’s stock valued at $182,204,000 after buying an additional 2,502,300 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Performance

FTV opened at $60.82 on Thursday. The firm has a market cap of $18.73 billion, a P/E ratio of 35.16, a PEG ratio of 3.30 and a beta of 1.09. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $74.67. The company has a 50 day simple moving average of $57.20 and a two-hundred day simple moving average of $54.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities analysts forecast that Fortive Corporation will post 2.94 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, March 13th. Fortive’s dividend payout ratio is presently 13.87%.

Insider Buying and Selling at Fortive

In related news, Director Kate Mitchell sold 7,131 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the completion of the transaction, the director owned 31,775 shares in the company, valued at approximately $1,853,753.50. This represents a 18.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on FTV shares. Barclays upped their target price on shares of Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday, February 9th. Royal Bank Of Canada upped their target price on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Robert W. Baird set a $65.00 target price on shares of Fortive in a report on Thursday, February 5th. JPMorgan Chase & Co. upped their target price on shares of Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Wednesday, February 11th. Finally, Mizuho reiterated an “underperform” rating and issued a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.00.

Fortive 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.