Fortive Corporation $FTV Stake Lowered by Clean Energy Transition LLP

Clean Energy Transition LLP reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 10.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,054,309 shares of the technology company’s stock after selling 120,651 shares during the period. Fortive makes up about 4.9% of Clean Energy Transition LLP’s holdings, making the stock its 6th largest position. Clean Energy Transition LLP owned about 0.33% of Fortive worth $58,208,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Congruence Capital LLC purchased a new stake in shares of Fortive during the 4th quarter worth $21,060,000. Arax Advisory Partners boosted its position in shares of Fortive by 32.0% during the 4th quarter. Arax Advisory Partners now owns 9,860 shares of the technology company’s stock worth $544,000 after purchasing an additional 2,393 shares in the last quarter. Alamea Verwaltungs GmbH purchased a new stake in shares of Fortive during the 4th quarter worth $805,000. The Manufacturers Life Insurance Company boosted its position in shares of Fortive by 70.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,626,871 shares of the technology company’s stock worth $310,809,000 after purchasing an additional 2,316,202 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Fortive by 56.4% during the 4th quarter. UMB Bank n.a. now owns 1,192 shares of the technology company’s stock worth $66,000 after purchasing an additional 430 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FTV. Weiss Ratings restated a “hold (c)” rating on shares of Fortive in a research report on Friday, May 22nd. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Monday, May 11th. Morgan Stanley boosted their target price on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price target on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company lifted their price target on Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.62.

Fortive Trading Up 0.5%

NYSE:FTV opened at $60.15 on Friday. The company has a market capitalization of $18.34 billion, a PE ratio of 36.02 and a beta of 1.06. 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 Corporation has a 52-week low of $46.34 and a 52-week high of $71.85. The stock has a fifty day simple moving average of $59.82 and a 200-day simple moving average of $57.05.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. The business had revenue of $2.14 billion during 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 business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities research analysts expect that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 22nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s payout ratio is presently 14.37%.

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.