Fortive Corporation $FTV Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in Fortive Corporation (NYSE:FTV) by 13.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,930 shares of the technology company’s stock after selling 17,699 shares during the period. Thrivent Financial for Lutherans’ holdings in Fortive were worth $6,124,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FTV. Valeo Financial Advisors LLC acquired a new position in Fortive during the 4th quarter worth approximately $222,000. Swiss Life Asset Management Ltd increased its position in Fortive by 16.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 97,641 shares of the technology company’s stock worth $5,391,000 after purchasing an additional 13,598 shares during the period. Midwest Trust Co increased its position in Fortive by 2.4% during the 4th quarter. Midwest Trust Co now owns 191,606 shares of the technology company’s stock worth $10,579,000 after purchasing an additional 4,470 shares during the period. NewEdge Wealth LLC acquired a new position in Fortive during the 4th quarter worth approximately $207,000. Finally, Generali Asset Management SPA SGR increased its position in Fortive by 4.6% during the 4th quarter. Generali Asset Management SPA SGR now owns 26,225 shares of the technology company’s stock worth $1,448,000 after purchasing an additional 1,163 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the sale, the senior vice president owned 87,780 shares of the company’s stock, valued at $5,337,901.80. The trade was a 35.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

Fortive Price Performance

Shares of NYSE:FTV opened at $59.06 on Friday. The business’s 50 day simple moving average is $58.16 and its 200-day simple moving average is $56.07. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.09. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $73.77.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, equities analysts forecast that Fortive Corporation will post 2.96 earnings per share for the current fiscal year.

Fortive announced that its board has initiated a share repurchase plan on Monday, May 4th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s payout ratio is 14.37%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FTV shares. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, May 11th. Morgan Stanley boosted their target price on Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. JPMorgan Chase & Co. boosted their target price on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Zacks Research cut Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Robert W. Baird set a $65.00 target price on Fortive in a research report on Thursday, February 5th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.54.

About Fortive

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.