JPMorgan Chase & Co. Sells 909,015 Shares of Fortive Corporation $FTV

JPMorgan Chase & Co. decreased its position in Fortive Corporation (NYSE:FTV) by 48.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 960,729 shares of the technology company’s stock after selling 909,015 shares during the period. JPMorgan Chase & Co. owned about 0.30% of Fortive worth $47,066,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Fortive by 2.2% in the second quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock valued at $2,054,644,000 after purchasing an additional 839,321 shares during the last quarter. Dodge & Cox increased its stake in Fortive by 51.5% in the 2nd quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $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% during the 2nd 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 in the last quarter. State Street Corp lifted its position in Fortive by 0.7% during the 2nd 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 in the last quarter. Finally, Flossbach Von Storch SE boosted its stake in shares of Fortive by 1.6% during the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock worth $627,825,000 after buying an additional 189,027 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fortive 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 transaction, the director owned 31,775 shares in the company, valued at $1,853,753.50. This trade represents a 18.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

FTV has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Wells Fargo & Company upped their price objective on Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Royal Bank Of Canada raised their target price on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Citigroup upped their price target on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Mizuho reiterated an “underperform” rating and issued a $51.00 price target (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.85.

Fortive Stock Up 2.5%

Shares of FTV opened at $59.78 on Friday. The firm has a market cap of $18.99 billion, a P/E ratio of 34.55, a price-to-earnings-growth ratio of 3.14 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $80.86. The firm’s 50-day simple moving average is $56.03 and its 200 day simple moving average is $52.19.

Fortive (NYSE:FTV) last issued its quarterly earnings data 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 return on equity of 11.98% and a net margin of 12.48%.During the same quarter in the previous year, the firm earned $1.17 earnings per share. The company’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. On average, analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Fortive’s dividend payout ratio is currently 13.87%.

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.