BI Asset Management Fondsmaeglerselskab A S Lowers Holdings in Fortive Corporation $FTV

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Fortive Corporation (NYSE:FTV) by 45.6% during the first quarter, Holdings Channel reports. The firm owned 11,987 shares of the technology company’s stock after selling 10,065 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fortive were worth $663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTV. Brighton Jones LLC grew its holdings in Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after buying an additional 2,811 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Fortive by 6.9% in the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after buying an additional 430 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Fortive by 87.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Fortive by 3.3% during the second quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock worth $4,201,000 after acquiring an additional 2,548 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FTV has been the topic of a number of research reports. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, May 11th. Wells Fargo & Company lifted their target price on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.62.

Insider Activity

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

Fortive Trading Up 2.1%

FTV stock opened at $61.67 on Friday. The firm has a fifty day moving average price of $60.33 and a 200 day moving average price of $57.57. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $71.85. The firm has a market cap of $18.80 billion, a PE ratio of 36.93 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Fortive’s revenue was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Sell-side analysts anticipate that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 22nd. Fortive’s dividend payout ratio is currently 14.37%.

Fortive announced that its Board of Directors has initiated a share repurchase plan on Monday, May 4th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Fortive Company 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.