US Bancorp DE Sells 36,582 Shares of Fortive Corporation $FTV

US Bancorp DE cut its stake in Fortive Corporation (NYSE:FTV) by 27.2% in the third quarter, Holdings Channel.com reports. The firm owned 98,072 shares of the technology company’s stock after selling 36,582 shares during the period. US Bancorp DE’s holdings in Fortive were worth $4,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Weitz Investment Management Inc. raised its position in shares of Fortive by 2.1% during the third quarter. Weitz Investment Management Inc. now owns 46,400 shares of the technology company’s stock valued at $2,273,000 after buying an additional 950 shares during the last quarter. Mufg Securities Americas Inc. raised its holdings in Fortive by 21.1% in the 3rd quarter. Mufg Securities Americas Inc. now owns 9,124 shares of the technology company’s stock valued at $447,000 after acquiring an additional 1,592 shares in the last quarter. AXQ Capital LP acquired a new position in Fortive in the 3rd quarter valued at approximately $654,000. Tredje AP fonden grew its holdings in shares of Fortive by 28.2% during the 3rd quarter. Tredje AP fonden now owns 227,600 shares of the technology company’s stock worth $11,150,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Studio Investment Management LLC grew its holdings in shares of Fortive by 18.4% during the 3rd quarter. Studio Investment Management LLC now owns 5,894 shares of the technology company’s stock worth $289,000 after purchasing an additional 914 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FTV shares. JPMorgan Chase & Co. upped their target price on Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research note on Wednesday, February 11th. Wells Fargo & Company raised their price target on shares of Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Zacks Research raised Fortive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Barclays increased their target price on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Finally, Robert W. Baird set a $65.00 price target on Fortive in a research note on Thursday, February 5th. One equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.85.

Insider Activity at Fortive

In related news, Director Kate Mitchell sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the completion of the transaction, the director owned 31,775 shares in the company, valued at $1,853,753.50. The trade was a 18.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.92% of the stock is owned by company insiders.

Fortive Price Performance

Fortive stock opened at $58.57 on Tuesday. The business’s fifty day moving average is $56.17 and its two-hundred day moving average is $52.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71. The firm has a market cap of $18.03 billion, a P/E ratio of 33.86, a P/E/G ratio of 3.20 and a beta of 1.10. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $80.74.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share 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 business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th. Fortive’s dividend payout ratio is presently 13.87%.

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.