Park Avenue Securities LLC Trims Stake in Fortive Corporation $FTV

Park Avenue Securities LLC cut its stake in Fortive Corporation (NYSE:FTV) by 53.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,193 shares of the technology company’s stock after selling 9,406 shares during the quarter. Park Avenue Securities LLC’s holdings in Fortive were worth $401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTV. Dodge & Cox increased its holdings in shares of Fortive by 51.5% during the 2nd quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after purchasing an additional 11,273,242 shares in the last quarter. Norges Bank purchased a new position in Fortive in the second quarter valued at $357,602,000. Viking Global Investors LP increased its holdings in Fortive by 22.9% in the second quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock valued at $829,525,000 after buying an additional 2,962,502 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Fortive by 132.8% in the third quarter. Pacer Advisors Inc. now owns 3,222,299 shares of the technology company’s stock worth $157,860,000 after acquiring an additional 1,838,120 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Fortive by 24.6% during the 2nd quarter. Invesco Ltd. now owns 7,010,216 shares of the technology company’s stock worth $365,443,000 after acquiring an additional 1,383,254 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $57.00 price target (up previously from $55.00) on shares of Fortive in a report on Friday. Wells Fargo & Company boosted their price objective on Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a research report on Monday, December 22nd. Barclays increased their target price on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Finally, Citigroup increased their price objective on shares of Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and a consensus price target of $57.77.

Fortive Stock Down 0.9%

NYSE FTV opened at $54.99 on Friday. The business has a fifty day moving average price of $53.98 and a 200 day moving average price of $51.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The company has a market cap of $17.47 billion, a P/E ratio of 31.42, a P/E/G ratio of 3.11 and a beta of 1.13. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 29th. The technology company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. Research analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were issued a $0.06 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio is presently 13.71%.

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.