OMERS ADMINISTRATION Corp Acquires New Stake in Fortive Corporation $FTV

OMERS ADMINISTRATION Corp purchased a new stake in shares of Fortive Corporation (NYSE:FTV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 18,352 shares of the technology company’s stock, valued at approximately $1,121,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FTV. Brighton Jones LLC increased its holdings in shares of Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after purchasing an additional 2,811 shares in the last quarter. Empowered Funds LLC boosted its holdings in Fortive by 6.9% in the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after purchasing an additional 430 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Fortive by 246.2% in 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 period. EverSource Wealth Advisors LLC grew its position in Fortive by 87.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after purchasing an additional 1,062 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Fortive by 3.3% during the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock valued at $4,201,000 after buying an additional 2,548 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FTV shares. Royal Bank Of Canada raised their price target on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Citigroup increased their target price on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Truist Financial reissued a “hold” rating and issued a $68.00 target price (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Morgan Stanley boosted their price target on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Fortive presently has an average rating of “Hold” and an average target price of $63.10.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the sale, the senior vice president owned 79,118 shares in the company, valued at approximately $4,872,877.62. This trade represents a 9.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Fortive Price Performance

NYSE FTV opened at $60.30 on Thursday. The business’s fifty day moving average is $61.12 and its 200 day moving average is $59.47. Fortive Corporation has a fifty-two week low of $46.54 and a fifty-two week high of $64.56. 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 $18.21 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 2.47 and a beta of 1.06.

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

Fortive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 positive change from Fortive’s previous quarterly dividend of $0.06. Fortive’s payout ratio is currently 14.20%.

Fortive announced that its Board of Directors has initiated a share buyback program on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.