Fortive Corporation $FTV Stock Holdings Lessened by Intech Investment Management LLC

Intech Investment Management LLC reduced its holdings in Fortive Corporation (NYSE:FTV) by 60.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,306 shares of the technology company’s stock after selling 21,787 shares during the period. Intech Investment Management LLC’s holdings in Fortive were worth $790,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of FTV. Geneos Wealth Management Inc. lifted its position in shares of Fortive by 246.2% in 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 during the last quarter. Dorato Capital Management bought a new stake in Fortive in the 4th quarter valued at about $45,000. Hantz Financial Services Inc. lifted its position in Fortive by 149.3% in the 4th quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock valued at $47,000 after purchasing an additional 506 shares during the last quarter. Dunhill Financial LLC lifted its position in Fortive by 8,300.0% in the 3rd quarter. Dunhill Financial LLC now owns 1,008 shares of the technology company’s stock valued at $49,000 after purchasing an additional 996 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in Fortive in the 4th quarter valued at about $49,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FTV. Wells Fargo & Company lifted their price objective on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Citigroup lifted their price objective on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Hold” and a consensus target price of $61.62.

Fortive Stock Down 0.1%

Fortive stock opened at $61.23 on Tuesday. The stock has a market cap of $18.67 billion, a price-to-earnings ratio of 36.66 and a beta of 1.06. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $59.34 and its two-hundred day moving average price is $56.83. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $73.77.

Fortive (NYSE:FTV) last released its earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. Fortive’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, analysts expect that Fortive Corporation will post 2.97 EPS for the current fiscal year.

Fortive declared that its Board of Directors has initiated a stock buyback program on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, 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 document filed with the SEC, which is accessible through this link. 0.65% of the stock is owned by corporate insiders.

Fortive Company 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.