Principal Financial Group Inc. Reduces Stake in Fortive Corporation $FTV

Principal Financial Group Inc. reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 364,372 shares of the technology company’s stock after selling 14,343 shares during the quarter. Principal Financial Group Inc.’s holdings in Fortive were worth $17,851,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Fortive by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock worth $2,054,644,000 after purchasing an additional 839,321 shares during the period. Dodge & Cox lifted its position in Fortive by 51.5% in the second quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock worth $1,729,340,000 after buying an additional 11,273,242 shares during the last quarter. Viking Global Investors LP lifted its position in Fortive by 22.9% in the second quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock worth $829,525,000 after buying an additional 2,962,502 shares during the last quarter. State Street Corp boosted its stake in Fortive by 0.7% during the second quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock worth $738,013,000 after buying an additional 92,222 shares during the period. Finally, Flossbach Von Storch SE increased its position in Fortive by 1.6% during the second quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after acquiring an additional 189,027 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on FTV. Wells Fargo & Company raised their target price on shares of Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $57.00 price objective (up from $55.00) on shares of Fortive in a research report on Friday, January 16th. Royal Bank Of Canada raised their price objective on shares of Fortive from $56.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Thursday. Citigroup boosted their target price on Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Barclays raised their price target on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Fortive has a consensus rating of “Hold” and an average price target of $59.85.

Fortive Price Performance

Shares of FTV stock opened at $60.15 on Monday. The company has a market capitalization of $19.10 billion, a P/E ratio of 34.77, a P/E/G ratio of 3.25 and a beta of 1.12. The company’s 50-day simple moving average is $54.91 and its two-hundred day simple moving average is $51.31. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating 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%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the business earned $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, equities analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

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.