National Pension Service Sells 23,845 Shares of Fortive Corporation $FTV

National Pension Service lowered its holdings in Fortive Corporation (NYSE:FTV) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,688 shares of the technology company’s stock after selling 23,845 shares during the period. National Pension Service’s holdings in Fortive were worth $11,649,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Fortive by 3,895.4% during the 2nd quarter. California State Teachers Retirement System now owns 27,805,114 shares of the technology company’s stock valued at $1,698,614,000 after purchasing an additional 27,109,194 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Fortive during the 2nd quarter worth $1,626,463,000. Flossbach Von Storch SE purchased a new position in shares of Fortive in the 2nd quarter worth about $739,668,000. Norges Bank bought a new position in Fortive during the fourth quarter valued at about $491,928,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Fortive during the second quarter valued at about $527,526,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FTV. Argus restated a “buy” rating and set a $68.00 price objective on shares of Fortive in a report on Wednesday, August 19th. Truist Financial reiterated a “hold” rating and issued a $68.00 target price (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Weiss Ratings downgraded shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 27th. Finally, Morgan Stanley raised their price target on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Two investment 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, the company presently has an average rating of “Hold” and a consensus price target of $63.10.

Fortive Stock Up 0.3%

Shares of NYSE FTV opened at $54.69 on Friday. Fortive Corporation has a one year low of $47.31 and a one year high of $64.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. The business’s fifty day moving average price is $60.08 and its 200-day moving average price is $59.35. The stock has a market capitalization of $16.52 billion, a PE ratio of 32.36, a P/E/G ratio of 2.27 and a beta of 1.05.

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

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 given a dividend of $0.07 per share. This is a boost 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 is Friday, September 4th. Fortive’s dividend payout ratio (DPR) is 16.57%.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction dated Monday, August 10th. The shares were 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 owned 79,118 shares in the company, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by corporate insiders.

Fortive Profile

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive’s portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.