Wealthfront Advisers LLC Increases Position in Fortive Corporation $FTV

Wealthfront Advisers LLC boosted its holdings in Fortive Corporation (NYSE:FTV) by 105.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,514 shares of the technology company’s stock after purchasing an additional 41,780 shares during the period. Wealthfront Advisers LLC’s holdings in Fortive were worth $3,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of FTV. True Wealth Design LLC boosted its stake 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 buying an additional 424 shares during the last quarter. Quent Capital LLC acquired a new stake in Fortive in the third quarter valued at $28,000. Exchange Traded Concepts LLC raised its holdings 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 acquiring an additional 236 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in 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 acquiring an additional 325 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Up 1.7%

Shares of NYSE FTV opened at $56.96 on Friday. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 3.02 and a beta of 1.12. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $55.46 and its 200 day simple moving average is $51.57.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FTV shares. Mizuho restated an “underperform” rating and issued a $51.00 target price (down previously from $54.00) on shares of Fortive in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. JPMorgan Chase & Co. increased their target price on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Citigroup upped their price target on Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.85.

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.