TD Waterhouse Canada Inc. Reduces Stock Position in Fortive Corporation $FTV

TD Waterhouse Canada Inc. trimmed its stake in shares of Fortive Corporation (NYSE:FTV) by 66.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,824 shares of the technology company’s stock after selling 11,423 shares during the period. TD Waterhouse Canada Inc.’s holdings in Fortive were worth $360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fortive during the 4th quarter worth about $20,387,000. WINTON GROUP Ltd acquired a new stake in shares of Fortive during the 4th quarter worth $6,729,000. ABN Amro Investment Solutions acquired a new stake in Fortive during the fourth quarter worth about $1,229,000. Arrowstreet Capital Limited Partnership purchased a new position in Fortive in the first quarter valued at approximately $11,854,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Fortive by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company’s stock valued at $112,066,000 after acquiring an additional 133,447 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction of $533,492.58. Following the completion of the sale, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.65% of the company’s stock.

Fortive Stock Down 2.4%

FTV stock opened at $54.44 on Friday. Fortive Corporation has a 52 week low of $47.31 and a 52 week high of $64.56. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05. The firm’s 50-day moving average is $60.24 and its two-hundred day moving average is $59.39. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company posted $0.90 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, analysts forecast that Fortive Corporation will post 3.02 earnings per share for the current fiscal year.

Fortive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.07 per share. This is a boost from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. Fortive’s dividend payout ratio (DPR) is currently 16.57%.

Analysts Set New Price Targets

Several brokerages recently commented on FTV. Weiss Ratings downgraded Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. Morgan Stanley upped their target price on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Argus reissued a “buy” rating and set a $68.00 price target on shares of Fortive in a research report on Wednesday, August 19th. Finally, Truist Financial reiterated a “hold” rating and set a $68.00 price objective (up from $67.00) on shares of Fortive in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Fortive presently has a consensus rating of “Hold” and an average price target of $63.10.

Fortive Company Profile

Fortive Corporation (NYSE:FTV) is a diversified industrial technology company that develops and provides essential products, software and services for customers in healthcare, manufacturing, utilities, commercial facilities and other professional markets. Its businesses focus on improving workplace productivity, safety, compliance, asset performance and operational efficiency.

Fortive’s portfolio has included brands such as Fluke, Tektronix, Industrial Scientific, Accruent, Gordian, Provation and ASP.