Vanguard Group Inc. Decreases Stock Holdings in Fortive Corporation $FTV

Vanguard Group Inc. lowered its stake in Fortive Corporation (NYSE:FTV) by 0.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 39,116,334 shares of the technology company’s stock after selling 297,515 shares during the quarter. Vanguard Group Inc. owned 12.32% of Fortive worth $1,916,309,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in FTV. Exchange Traded Concepts LLC increased its stake in shares of Fortive by 46.7% during the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock worth $36,000 after purchasing an additional 236 shares in the last quarter. Blue Trust Inc. boosted its holdings in Fortive by 20.4% in the 3rd quarter. Blue Trust Inc. now owns 1,612 shares of the technology company’s stock worth $79,000 after buying an additional 273 shares during the last quarter. CNB Bank increased its stake in Fortive by 4.0% during the 2nd quarter. CNB Bank now owns 7,596 shares of the technology company’s stock worth $396,000 after buying an additional 289 shares in the last quarter. CX Institutional raised its holdings in shares of Fortive by 8.7% during the third quarter. CX Institutional now owns 3,693 shares of the technology company’s stock valued at $181,000 after acquiring an additional 296 shares during the last quarter. Finally, Locust Wood Capital Advisers LLC lifted its position in shares of Fortive by 2.9% in the second quarter. Locust Wood Capital Advisers LLC now owns 10,500 shares of the technology company’s stock valued at $547,000 after acquiring an additional 300 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on FTV shares. Mizuho reiterated an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. Robert W. Baird set a $65.00 target price on shares of Fortive in a report on Thursday, February 5th. Royal Bank Of Canada increased their target price on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Barclays boosted their price target on shares of Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Monday, February 9th. Finally, Citigroup increased their price objective on shares of Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $60.85.

Insider Activity at Fortive

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

Fortive Price Performance

Shares of FTV stock opened at $57.80 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. The company has a market capitalization of $18.36 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 3.14 and a beta of 1.12. The firm’s 50-day moving average is $55.70 and its two-hundred day moving average is $51.81. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32.

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, topping analysts’ consensus estimates of $0.83 by $0.07. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm earned $1.17 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Analysts predict that Fortive Corporation will post 4.05 earnings per share for the current year.

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.