Fortive Corporation unveils share buyback authorization plan.
Fortive Corporation, a provider of connected workflow solutions, announced it has secured a special share repurchase authorization worth up to $550 million. This authorization is connected to the company's upcoming separation from Ralliant Corporation, its precision technologies segment.
The special purpose program is aimed at efficiently returning capital to Fortive's shareholders following the receipt of significant cash proceeds derived from Ralliant. It provides strategic flexibility, enabling the company to respond to market conditions and optimize capital deployment.
Under this program, Fortive will purchase up to $550 million of its common stock using the proceeds from Ralliant's pre-separation cash dividend and any additional cash received from Ralliant related to the separation. Repurchases under this program can only be made using the Ralliant cash proceeds, and not from the general share repurchase authorization.
Fortive's management will determine the timing and volume of share buybacks based on market conditions and other relevant factors. The authorization demonstrates Fortive's commitment to disciplined capital allocation and shareholder value creation in the context of a significant corporate restructuring.
The news comes as Fortive is slated to host an investor day conference and innovation showcase following Ralliant's conference on June 10, 2025, at the NYSE. Related materials will be posted online prior to the presentations.
Following the increase in the general share repurchase program, the total number of shares remaining available for repurchase under the General Share Repurchase Program will be 20 million shares. The General Share Repurchase Program has no expiration date.
Fortive is headquartered in Everett, Washington, and employs over 18,000 employees in more than 50 countries around the world. The company is a provider of essential technologies for connected workflow solutions across a range of end-markets.
- The special share repurchase authorization worth up to $550 million by Fortive Corporation is a part of their strategic compliance with efficient capital allocation, aimed at enhancing performance and securing the value for their shareholders.
- The news of Fortive's special share repurchase authorization is significant in the context of its upcoming separation from Ralliant Corporation, especially considering the company's focus on capital deployment and adherence to business practices.
- Fortive's cloud-based connected workflow solutions across various end-markets have been designed with an emphasis on finance and security, aligned with their goal of driving growth and innovation, demonstrating the company's commitment to serving their diverse business needs.
