Skandinaviska Enskilda Banken AB publ Acquires Shares of 21,300 Fortive Corporation $FTV

Skandinaviska Enskilda Banken AB publ bought a new position in Fortive Corporation (NYSE:FTV) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 21,300 shares of the technology company’s stock, valued at approximately $1,043,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Fortive by 2.2% in the second quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock worth $2,054,644,000 after buying an additional 839,321 shares during the last quarter. Dodge & Cox raised its stake in shares of Fortive by 51.5% in the second quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after acquiring an additional 11,273,242 shares during the period. Viking Global Investors LP lifted its holdings in shares of Fortive by 22.9% in the 2nd quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock worth $829,525,000 after acquiring an additional 2,962,502 shares during the last quarter. State Street Corp lifted its holdings in shares of Fortive by 0.7% in the 2nd quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock worth $738,013,000 after acquiring an additional 92,222 shares during the last quarter. Finally, Flossbach Von Storch SE boosted its stake in shares of Fortive by 1.6% during the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock worth $627,825,000 after purchasing an additional 189,027 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other news, Director Kate Mitchell sold 7,131 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the transaction, the director directly owned 31,775 shares in the company, valued at approximately $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 accessible through this link. Insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of recent analyst reports. Robert W. Baird set a $65.00 price objective on shares of Fortive in a research report on Thursday, February 5th. JPMorgan Chase & Co. increased their price target on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a report on Wednesday, February 11th. Morgan Stanley raised their price target on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Citigroup upped their price objective on Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company lifted their target price on Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.85.

Fortive Price Performance

FTV opened at $58.20 on Friday. The company has a market capitalization of $18.49 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.14 and a beta of 1.12. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $81.86. The business’s fifty day simple moving average is $55.77 and its 200-day simple moving average is $51.92.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter 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 research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

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.