Deutsche Bank AG Invests $99.33 Million in Fortive Corporation $FTV

Deutsche Bank AG acquired a new position in Fortive Corporation (NYSE:FTV) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,625,893 shares of the technology company’s stock, valued at approximately $99,326,000.

Other hedge funds have also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in Fortive during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. grew its position in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Fortive by 43.6% during the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after purchasing an additional 168 shares in the last quarter. Main Street Group LTD purchased a new position in shares of Fortive during the 1st quarter worth approximately $31,000. Finally, Dakota Community Bank & Trust NA raised its position in shares of Fortive by 59.2% during the 1st quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock worth $39,000 after purchasing an additional 261 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

Shares of FTV opened at $59.41 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 35.15 and a beta of 1.06. The company’s 50 day simple moving average is $61.16 and its 200 day simple moving average is $59.39. Fortive Corporation has a 1 year low of $46.54 and a 1 year high of $64.56.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. Fortive’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, sell-side analysts predict that Fortive Corporation will post 3.01 EPS for the current year.

Fortive Increases Dividend

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

Fortive announced that its Board of Directors has initiated a share repurchase program on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FTV. JPMorgan Chase & Co. upped their target price on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Weiss Ratings raised Fortive from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Argus reissued a “buy” rating and issued a $68.00 price target on shares of Fortive in a report on Wednesday. Truist Financial restated a “hold” rating and issued a $68.00 price objective (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada increased their price objective on Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.10.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

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.