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

JPMorgan Chase & Co. cut its position in Fortive Corporation (NYSE:FTV) by 48.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 0.30% of Fortive worth $47,066,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. AIA Group Ltd bought a new position in shares of Fortive in the third quarter valued at approximately $225,000. Swiss Life Asset Management Ltd boosted its holdings in shares of Fortive by 32.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 84,043 shares of the technology company’s stock worth $4,117,000 after acquiring an additional 20,531 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Fortive during the 3rd quarter worth approximately $2,288,000. Danske Bank A S bought a new stake in Fortive during the 3rd quarter worth approximately $15,860,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Fortive by 668.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,145 shares of the technology company’s stock valued at $56,000 after purchasing an additional 996 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Fortive

In other news, Director Kate Mitchell sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the transaction, the director owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. This trade represents a 18.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FTV shares. Barclays lifted their price objective on Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research report on Monday, February 9th. Royal Bank Of Canada raised their target price on Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. Robert W. Baird set a $65.00 price target on Fortive in a report 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, JPMorgan Chase & Co. increased their price objective on shares of Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.23.

Fortive Stock Down 0.7%

Shares of FTV opened at $55.15 on Friday. The business’s fifty day moving average price is $56.40 and its two-hundred day moving average price is $53.11. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 3.00 and a beta of 1.10. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $76.54. 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 (NYSE:FTV) last released its earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share 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%.The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The firm’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 predict that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, March 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. 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.