Fortive Corporation $FTV Position Lowered by Truist Financial Corp

Truist Financial Corp reduced its position in Fortive Corporation (NYSE:FTV) by 33.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,029 shares of the technology company’s stock after selling 29,252 shares during the quarter. Truist Financial Corp’s holdings in Fortive were worth $2,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in shares of Fortive by 815.4% in the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after acquiring an additional 424 shares during the last quarter. Quent Capital LLC acquired a new position in Fortive in the third quarter worth $28,000. Exchange Traded Concepts LLC increased its stake in Fortive by 46.7% during the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after purchasing an additional 236 shares during the last quarter. Geneos Wealth Management Inc. increased its stake 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 purchasing an additional 357 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in shares of Fortive by 71.1% during the third quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock worth $38,000 after purchasing an additional 325 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Up 0.1%

Shares of FTV stock opened at $60.18 on Friday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The firm has a market capitalization of $19.11 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 3.25 and a beta of 1.12. The stock has a fifty day moving average of $54.78 and a two-hundred day moving average of $51.24. 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 issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FTV shares. Morgan Stanley lifted their price target on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Wells Fargo & Company lifted their target price on Fortive from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup increased their price target on Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial restated a “hold” rating and set a $58.00 price objective (up previously from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada increased their target price on Fortive from $56.00 to $65.00 and gave the stock a “sector perform” rating in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.85.

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.