Fortive Corporation $FTV Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC lowered its position in Fortive Corporation (NYSE:FTV) by 55.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 347,730 shares of the technology company’s stock after selling 431,100 shares during the period. Fortive makes up approximately 1.5% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 25th largest holding. Clarkston Capital Partners LLC owned 0.11% of Fortive worth $19,223,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sei Investments Co. boosted its holdings in shares of Fortive by 49.4% in the 1st quarter. Sei Investments Co. now owns 671,708 shares of the technology company’s stock valued at $37,132,000 after acquiring an additional 222,129 shares during the last quarter. State of Wyoming acquired a new stake in shares of Fortive in the first quarter worth $460,000. Cetera Investment Advisers raised its holdings in shares of Fortive by 7.5% during the first quarter. Cetera Investment Advisers now owns 18,879 shares of the technology company’s stock worth $1,044,000 after purchasing an additional 1,320 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Fortive by 4.2% during the first quarter. First Citizens Bank & Trust Co. now owns 5,604 shares of the technology company’s stock valued at $310,000 after purchasing an additional 224 shares during the period. Finally, Westpac Banking Corp acquired a new position in Fortive during the first quarter valued at $5,300,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FTV. JPMorgan Chase & Co. increased their price target on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada upped their target price on Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Zacks Research lowered Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Wells Fargo & Company lifted their price target on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Truist Financial boosted their price target on Fortive from $61.00 to $67.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Fortive has an average rating of “Hold” and an average target price of $63.00.

Fortive Price Performance

Shares of Fortive stock opened at $60.62 on Friday. The firm has a market cap of $18.33 billion, a PE ratio of 36.30 and a beta of 1.06. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $64.33. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $60.74 and a 200 day moving average price of $58.48.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.Fortive’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Sell-side analysts predict that Fortive Corporation will post 2.98 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 22nd were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is currently 14.37%.

Fortive announced that its board has approved a share repurchase program on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

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.