Fortive Corporation $FTV Stake Lessened by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. cut its holdings in shares of Fortive Corporation (NYSE:FTV) by 66.2% in the second quarter, HoldingsChannel reports. The fund owned 5,824 shares of the technology company’s stock after selling 11,423 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Fortive were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of 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 during the last quarter. Empowered Funds LLC boosted its holdings in shares of Fortive by 6.9% during the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after buying an additional 430 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Fortive by 87.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock valued at $118,000 after purchasing an additional 1,062 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Fortive by 3.3% in 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. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Argus reissued a “buy” rating and set a $68.00 target price on shares of Fortive in a research report on Wednesday, August 19th. Truist Financial reiterated a “hold” rating and issued a $68.00 price objective (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Morgan Stanley raised their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings cut Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Two investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.10.

Fortive Stock Down 2.4%

NYSE:FTV opened at $54.44 on Friday. The stock has a 50-day simple moving average of $60.24 and a 200 day simple moving average of $59.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.24. The company has a market cap of $16.44 billion, a PE ratio of 32.22, a PEG ratio of 2.31 and a beta of 1.05. Fortive Corporation has a 52-week low of $47.31 and a 52-week high of $64.56.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, sell-side analysts expect that Fortive Corporation will post 3.02 EPS for the current fiscal year.

Fortive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, September 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.5%. This is a boost from Fortive’s previous quarterly dividend of $0.06. Fortive’s dividend payout ratio (DPR) is presently 16.57%.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the transaction, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Fortive Profile

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive’s portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.