Jupiter Topco LLC Purchases New Stake in Fortive Corporation $FTV

Jupiter Topco LLC purchased a new stake in shares of Fortive Corporation (NYSE:FTV) in the 2nd quarter, Holdings Channel reports. The fund purchased 59,498 shares of the technology company’s stock, valued at approximately $3,635,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new position in shares of Fortive in the second quarter valued at $60,884,000. EFG International AG bought a new position in shares of Fortive in the second quarter valued at about $364,000. Ancora Advisors LLC acquired a new stake in shares of Fortive during the 2nd quarter worth about $11,522,000. PDT Partners LLC bought a new stake in shares of Fortive during the 2nd quarter worth about $892,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Fortive during the 2nd quarter worth about $19,408,000. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FTV. Truist Financial reissued a “hold” rating and issued a $68.00 price target (up from $67.00) on shares of Fortive in a report on Thursday, July 30th. Argus restated a “buy” rating and set a $68.00 price objective on shares of Fortive in a report on Wednesday, August 19th. 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 report on Tuesday, May 12th. Weiss Ratings lowered Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley lifted their price target on Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.10.

Fortive Stock Performance

Shares of NYSE:FTV opened at $56.81 on Wednesday. Fortive Corporation has a 12-month low of $46.54 and a 12-month high of $64.56. The company’s 50 day moving average price is $60.94 and its two-hundred day moving average price is $59.43. The firm has a market cap of $17.16 billion, a PE ratio of 33.62, a PEG ratio of 2.44 and a beta of 1.06. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Equities research analysts predict that Fortive Corporation will post 3.02 earnings per share for the current year.

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 issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.28 annualized dividend and a yield of 0.5%. This is a boost from Fortive’s previous quarterly dividend of $0.06. Fortive’s payout ratio is presently 14.20%.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the sale, the senior vice president directly owned 79,118 shares of the company’s stock, valued at approximately $4,872,877.62. This represents a 9.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.

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.