Whittier Trust Co. of Nevada Inc. Sells 87,225 Shares of Fortive Corporation $FTV

Whittier Trust Co. of Nevada Inc. lowered its position in shares of Fortive Corporation (NYSE:FTV) by 75.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 28,500 shares of the technology company’s stock after selling 87,225 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Fortive were worth $1,616,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Dodge & Cox lifted its position in Fortive by 28.4% during the 3rd quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock valued at $2,086,768,000 after acquiring an additional 9,422,189 shares during the period. Norges Bank purchased a new stake in Fortive in the fourth quarter worth about $491,928,000. Northwestern Mutual Wealth Management Co. grew its holdings in Fortive by 102,687.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,487,060 shares of the technology company’s stock worth $413,361,000 after purchasing an additional 7,479,776 shares during the period. Viking Global Investors LP increased its stake in shares of Fortive by 28.7% during the third quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after purchasing an additional 4,571,056 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Fortive by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,046,352 shares of the technology company’s stock valued at $1,106,760,000 after purchasing an additional 4,532,031 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV opened at $62.61 on Wednesday. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $64.33. The firm has a market cap of $19.09 billion, a P/E ratio of 37.49 and a beta of 1.06. The company has a 50 day moving average of $60.58 and a 200 day moving average of $57.98. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts expect that Fortive Corporation will post 2.97 EPS for the current fiscal year.

Fortive declared that its board has authorized a stock repurchase plan on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 22nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, June 22nd. Fortive’s dividend payout ratio (DPR) is presently 14.37%.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was 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. The trade was a 35.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

FTV has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price target on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Citigroup raised their price objective on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Finally, Zacks Research cut Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Fortive currently has a consensus rating of “Hold” and an average target price of $61.83.

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.