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

Whittier Trust Co. of Nevada Inc. cut its holdings in shares of Fortive Corporation (NYSE:FTV) by 75.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,500 shares of the technology company’s stock after selling 87,225 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Fortive were worth $1,616,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after purchasing an additional 2,811 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock valued at $484,000 after buying an additional 430 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Fortive by 87.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after buying an additional 1,062 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Fortive by 3.3% in the 2nd quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock valued at $4,201,000 after acquiring an additional 2,548 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

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 transaction of $2,891,941.17. Following the transaction, the senior vice president owned 87,780 shares in the company, valued at $5,337,901.80. The trade was a 35.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

Fortive Price Performance

FTV opened at $62.61 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71. The stock has a market capitalization of $19.09 billion, a PE ratio of 37.49 and a beta of 1.06. The stock’s 50 day moving average price is $60.58 and its 200-day moving average price is $57.98. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $64.33.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities research analysts predict that Fortive Corporation will post 2.97 EPS for the current year.

Fortive declared that its board has authorized a share repurchase program on Monday, May 4th that permits the company to buyback 20,000,000 outstanding shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s payout ratio is presently 14.37%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FTV shares. Truist Financial raised their price target on Fortive from $61.00 to $67.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Argus upgraded Fortive from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Monday, May 11th. Citigroup increased their price objective on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Royal Bank Of Canada raised their target price on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Fortive presently has an average 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.