Wedge Capital Management L L P NC Decreases Position in Fortive Corporation $FTV

Wedge Capital Management L L P NC lowered its position in Fortive Corporation (NYSE:FTV) by 23.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,707 shares of the technology company’s stock after selling 37,670 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Fortive were worth $6,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FTV. Defender Capital LLC. purchased a new stake in shares of Fortive in the 4th quarter worth about $8,466,000. E. Ohman J or Asset Management AB purchased a new position in Fortive during the 4th quarter valued at about $639,000. Avanza Fonder AB acquired a new position in Fortive during the fourth quarter worth about $759,000. SG Americas Securities LLC raised its position in Fortive by 116.7% during the fourth quarter. SG Americas Securities LLC now owns 174,386 shares of the technology company’s stock worth $9,628,000 after acquiring an additional 93,896 shares during the last quarter. Finally, Diversified Trust Co. lifted its holdings in shares of Fortive by 48.7% in the fourth quarter. Diversified Trust Co. now owns 17,213 shares of the technology company’s stock valued at $950,000 after purchasing an additional 5,641 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of NYSE FTV opened at $53.95 on Friday. The company has a 50-day simple moving average of $56.34 and a 200-day simple moving average of $53.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. The company has a market cap of $16.61 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.91 and a beta of 1.10. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $74.67.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.07. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, March 13th. Fortive’s dividend payout ratio is currently 13.87%.

Insider Activity

In other news, Director Kate Mitchell sold 7,131 shares of the firm’s 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 sale, the director owned 31,775 shares in the company, valued at $1,853,753.50. This trade represents a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Morgan Stanley lifted their price objective on Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Citigroup upped their target price on Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Barclays increased their target price on Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday, February 9th. Finally, Mizuho reissued an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Hold” and an average price target of $61.23.

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.