Is Fortive Stock Underperforming the S&P 500?

Everett, Washington-based Fortive Corporation (FTV) is an industrial technology company that designs, manufactures, and markets essential technologies, software, and connected workflow solutions aimed at enhancing workplace safety, operational efficiency, engineering, and healthcare diagnostics. It is valued at a market cap of $18.2 billion. 

Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and FTV fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the scientific & technical instruments industry. The company’s primary specialty lies in developing high-margin, software-enabled workflow solutions and essential instrumentation that capture critical data across industrial, facility, and healthcare environments.

This tech company is currently trading 15.6% below its 52-week high of $63.40, reached on Jun. 10. Shares of FTV have gained 9.9% over the past three months, underperforming the S&P 500 Index’s ($SPX) 11% uptick during the same time frame. 

In the longer term, FTV has declined 15% over the past 52 weeks, notably lagging SPX's 22.5% return over the same time period. However, on a YTD basis, shares of FTV are up 9.3%, outpacing SPX’s 7.9% rise. 

To confirm its bullish trend, FTV has been trading above its 200-day moving average since early February and has remained above its 50-day moving average since early April.  

On Apr. 30, FTV shares fell 3.2% after the company reported its Q1 2026 results. Its revenue increased 7.7% year-over-year to $1.1 billion, exceeding analysts’ expectations. Moreover, its adjusted EPS came in at $0.70, also ahead of Wall Street estimates. Looking ahead, Fortive projects full-year adjusted earnings per share in the range of $2.90 to $3 per share. 

FTV has significantly lagged its rival, Coherent Corp. (COHR), which has soared 367.7% over the past 52 weeks and 105.1% on a YTD basis.

Looking at FTV’s recent underperformance, analysts remain cautious about its prospects. The stock has a consensus rating of "Hold” from the 18 analysts covering it, and the mean price target of $62.35 suggests a 3.1% premium to its current price levels.