Fortive CorporationNYSE: FTV
Industrials · Industrial Machinery & Supplies & Components
$61.09
+0.67%
Vol: 1.7M
Research Digest
Friday, June 19, 2026
Fortive posts Q1 2026 adjusted EPS of $0.70 (up 25%+ YoY), completes $500M buyback, and reaffirms $2.90–$3.00 full-year EPS guidance.
Fortive (FTV) reported Q1 2026 revenue of $1.07 billion (+7.7% reported, +5.3% core) and adjusted diluted EPS of $0.70, more than 25% above the prior year period. Adjusted EBITDA grew 13% year-over-year. The company completed approximately $500 million of share repurchases in Q1 alone, representing roughly 3% of diluted shares. Fortive reaffirmed full-year 2026 adjusted EPS guidance of $2.90–$3.00, trending toward the upper half. The "New Fortive" is now a leaner software-integrated industrial business following the 2025 spin-off of Ralliant Corporation. Multiple analysts raised price targets in May 2026, including JPMorgan, Morgan Stanley, and Wells Fargo.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Argus upgrades Fortive to Buy with $68 PT; company prices $1.1B senior notes offering to refinance debtPositive▶
Argus Research upgraded Fortive to Buy from Hold on May 11, 2026 with a $68 PT as shares traded around $60.70. On May 12, Fortive priced $600M of 4.750% notes due 2031 and $500M of 5.250% notes due 2036, with proceeds going to refinance maturing 3.150% senior notes. The company replenished its general share repurchase authorization on May 4. CEO Olumide Soroye and CFO Mark Okerstrom presented at the Wolfe Research Industrials Conference on May 19. Q1 2026 adjusted EPS of $0.70 beat consensus and the company reaffirmed full-year guidance of $2.90-$3.00, suggesting upper-half outcomes. Wells Fargo previously raised PT to $65 from $58 on May 4.
May 20Argus upgrades Fortive to Buy with $68 PT as company prices $1.1B senior notes and presents at Wolfe conferencePositive▶
Argus Research upgraded Fortive to Buy from Hold on May 11, 2026, with a $68 price target, against shares around $60.70. On May 12, Fortive priced $1.1B in senior notes ($600M at 4.750% due 2031 and $500M at 5.250% due 2036) to refinance debt. The board also replenished the share repurchase authorization on May 4, and CEO Olumide Soroye and CFO Mark Okerstrom presented at the Wolfe Research Industrials Conference on May 19. Q1 2026 adjusted EPS of $0.70 came in over 25% above the prior year, with full-year guidance reaffirmed at $2.90-$3.00. Bear case: 12-analyst consensus remains Hold with PT of $60.92, suggesting limited near-term upside despite AI-enabled product momentum like CertiFiber MAX.
May 19Fortive heads into May 19 Wolfe conference with Argus Buy upgrade ($68 PT) and fresh $1.1B senior notes pricing to refinance debtPositive▶
CEO Olumide Soroye and CFO Mark Okerstrom present at the Wolfe Research Global Transportation & Industrials Conference on May 19, 2026 at 10:55 a.m. ET, giving management a venue to update FY26 outlook. The pre-conference setup is constructive: Argus upgraded FTV to Buy with a $68 price target on May 11, and the company priced $600M of 4.750% notes due 2031 and $500M of 5.250% notes due 2036 on May 12 to refinance existing debt. Wells Fargo earlier in the month raised its target to $65 from $58. Consensus remains Hold with shares around $60.70. Watch for any commentary on capital allocation following the recent $500M Q1 buyback and replenished repurchase authorization. Refinancing locks in longer-dated funding but at higher coupons than legacy debt.
May 18Fortive priced $1.1B senior notes offering on May 13 and received Argus upgrade to Buy with $68 target on May 11, 2026Positive▶
Fortive Corp priced its $1.1 billion senior notes offering on May 13, 2026, consisting of $600M of 4.750% Notes due 2031 and $500M of 5.250% Notes due 2036. Argus Research upgraded the stock to Buy from Hold on May 11 with a $68 price target as shares traded around $60.70. Wells Fargo raised its price target to $65 from $58 on May 4, while the company announced replenishment of its general share repurchase authorization. CEO Olumide Soroye and CFO Mark Okerstrom are scheduled to present at the Wolfe Research Global Transportation & Industrials Conference on May 19. Consensus analyst rating remains Hold across 12 analysts.
May 15Fortive prices $1.1B senior notes May 12 and gets Argus Buy upgrade with $68 PT on May 11Positive▶
Fortive priced $600M of 4.750% notes due 2031 and $500M of 5.250% notes due 2036 on May 12, 2026 to refinance existing debt. Argus Research upgraded Fortive from Hold to Buy on May 11 with a $68 price target as shares traded around $60.70. Wells Fargo raised PT to $65 from $58 on May 4. Q1 EPS of $0.70 beat $0.65 estimates, and revenue of $1.069B beat $1.049B forecast. Fluke survey on May 7 found predictive maintenance adoption doubling as manufacturers boost digital investment. CEO/CFO presenting at Wolfe Research conference May 19. Stock is up 9.2% in 2026. Risk: cautious Hold consensus reflects mixed industrials demand.
May 14Fortive prices $1.1B senior notes offering on May 12-13, 2026 to fund operations.Mixed▶
Fortive priced a $1.1 billion senior notes offering consisting of $600 million 4.750% notes due 2031 and $500 million 5.250% notes due 2036. On May 12, JP Morgan analyst Chigusa Katoku maintained an Underweight rating but raised the price target from $63 to $64. Q1 2026 results showed 5.3% core revenue growth, 29.3% adjusted EBITDA margin, and 25.4% adjusted EPS growth to $0.70 (beat by 9.38%). The company reaffirmed FY 2026 EPS guidance of $2.90-$3.00 trending to upper half, with $4.3B revenue and 2-3% core growth expected. Fortive also replenished its general share repurchase authorization.
May 13Argus upgraded Fortive to Buy with a $68 target on May 11 as the company priced a $1.1B dual-tranche bond offering closing May 14, 2026.Positive▶
Argus Research upgraded Fortive (FTV) to Buy from Hold on May 11, 2026, with a $68 price target as shares traded around $60.70, citing tailwinds from EV/renewables-driven predictive maintenance demand (a May 7 industry survey showed doubling adoption) that benefits Fluke tools. Fortive priced $1.1B in senior notes across two tranches ($600M at 4.750% due 2031 and $500M at 5.250% due 2036), with the offering expected to close May 14, 2026. Q1 2026 EPS of $0.70 beat the $0.65 estimate on revenue of $1.069B (vs $1.049B est). On May 4, the company replenished its general share repurchase authorization. CEO Olumide Soroye and CFO Mark Okerstrom will present at the Wolfe Research Transportation & Industrials Conference on May 19. Risk: the new debt adds leverage at higher coupon levels, and shares remain well below their 52-week high of $74.67.
May 12No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| FTVFORTIVE | $61.09 | +0.67% | +3.4% | 18.9x | 0.99 | $18.6B |
| PHPARKER | $955.22 | +0.98% | +10.9% | 28.0x | 1.14 | $120.2B |
| ITWILLINOIS | $264.30 | +0.84% | +5.3% | 21.7x | 1.03 | $76.0B |
| GWWWW | $1,362.85 | +3.95% | +9.8% | 27.1x | 1.05 | $64.5B |
| IRINGERSOLL | $78.13 | +1.38% | +10.7% | 20.3x | 1.20 | $30.5B |
| DOVDOVER | $223.88 | +1.40% | +6.0% | 19.3x | 1.17 | $30.1B |
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Price above both MAs — bullish structure.