Midwest Trust Co Grows Stock Position in Fortive Corporation $FTV

Midwest Trust Co grew its stake in Fortive Corporation (NYSE:FTV) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,294 shares of the technology company’s stock after purchasing an additional 10,688 shares during the period. Midwest Trust Co owned about 0.07% of Fortive worth $11,183,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. DV Equities LLC purchased a new position in Fortive during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its stake in 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 last quarter. Root Financial Partners LLC boosted its position in 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 acquiring an additional 168 shares during the last quarter. Dorato Capital Management purchased a new stake in shares of Fortive in the fourth quarter valued at approximately $45,000. Finally, Hantz Financial Services Inc. grew its holdings in Fortive by 149.3% in the 4th quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock valued at $47,000 after buying an additional 506 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president owned 87,780 shares of the company’s stock, valued at $5,337,901.80. The trade was a 35.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Wells Fargo & Company lifted their target price on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Citigroup boosted their price target on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their target price on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.83.

Fortive Stock Up 0.1%

Shares of Fortive stock opened at $62.26 on Monday. The company has a market cap of $18.98 billion, a P/E ratio of 37.28 and a beta of 1.06. Fortive Corporation has a one year low of $46.34 and a one year high of $64.33. The firm has a fifty day moving average of $60.56 and a two-hundred day moving average of $58.12. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71.

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

Fortive announced that its Board of Directors has initiated a stock repurchase 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. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Fortive Announces Dividend

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

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.