Danske Bank A S Invests $16.36 Million in Fortive Corporation $FTV

Danske Bank A S bought a new stake in Fortive Corporation (NYSE:FTV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 267,842 shares of the technology company’s stock, valued at approximately $16,362,000.

A number of other large investors have also added to or reduced their stakes in FTV. Brighton Jones LLC boosted its position in Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after buying an additional 2,811 shares during the last quarter. Empowered Funds LLC increased its position in shares of Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after acquiring an additional 430 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake 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 worth $37,000 after acquiring an additional 357 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Fortive by 87.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Fortive by 3.3% in the second quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock valued at $4,201,000 after purchasing an additional 2,548 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction that occurred 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 transaction, the senior vice president directly owned 79,118 shares in the company, 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 legal filing with the SEC, which is available at this link. 0.65% of the stock is owned by corporate insiders.

Fortive Stock Performance

FTV stock opened at $59.41 on Friday. The stock’s 50 day simple moving average is $61.16 and its 200 day simple moving average is $59.39. Fortive Corporation has a 12-month low of $46.54 and a 12-month high of $64.56. The firm has a market cap of $17.94 billion, a P/E ratio of 35.15 and a beta of 1.06. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

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

Fortive announced that its Board of Directors has authorized a stock buyback program on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Fortive Increases Dividend

The firm also recently announced 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. This is an increase from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. Fortive’s dividend payout ratio is 14.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FTV shares. Citigroup raised their price objective on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their target price on Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Wells Fargo & Company lifted their price target on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, Truist Financial reaffirmed 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. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.10.

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.