TD Asset Management Inc Sells 358,609 Shares of Fortive Corporation $FTV

TD Asset Management Inc lowered its position in shares of Fortive Corporation (NYSE:FTV) by 43.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 457,435 shares of the technology company’s stock after selling 358,609 shares during the quarter. TD Asset Management Inc’s holdings in Fortive were worth $22,410,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. True Wealth Design LLC boosted its position in shares of Fortive by 815.4% during the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares in the last quarter. Quent Capital LLC bought a new stake in Fortive in the third quarter worth approximately $28,000. Exchange Traded Concepts LLC lifted its stake in Fortive by 46.7% in the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after buying an additional 236 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Fortive by 71.1% during the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock worth $38,000 after buying an additional 325 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of NYSE FTV opened at $59.17 on Friday. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 3.20 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $80.74. The firm’s 50-day simple moving average is $56.11 and its 200 day simple moving average is $52.30.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.During the same quarter last year, the company posted $1.17 earnings per share. Fortive’s quarterly revenue was up 4.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.06 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s dividend payout ratio is presently 13.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FTV shares. Zacks Research upgraded shares of Fortive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Citigroup lifted their price target on shares of Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Morgan Stanley increased their price objective on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Barclays boosted their target price on Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research report on Monday, February 9th. Finally, Royal Bank Of Canada increased their price target on Fortive from $56.00 to $65.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.85.

Insider Activity at Fortive

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the completion of the sale, the director directly owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. This represents a 18.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.92% of the stock is currently owned by corporate insiders.

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.