TD Asset Management Inc Has $21.10 Million Position in Fortive Corporation $FTV

TD Asset Management Inc reduced its holdings in shares of Fortive Corporation (NYSE:FTV) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 382,137 shares of the technology company’s stock after selling 75,298 shares during the period. TD Asset Management Inc owned about 0.12% of Fortive worth $21,098,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Fortive by 43.6% during the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock valued at $31,000 after acquiring an additional 168 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of Fortive during the 4th quarter valued at about $45,000. Hantz Financial Services Inc. boosted its position in shares of Fortive by 149.3% during the 4th quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock valued at $47,000 after acquiring an additional 506 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Fortive during the 4th quarter valued at about $49,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortive

In other Fortive 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 directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FTV. Truist Financial reissued a “hold” rating and set a $61.00 price target (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Morgan Stanley lifted their price target on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday. Argus raised shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a report on Monday, May 11th. Royal Bank Of Canada lifted their price target on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, Citigroup lifted their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Fortive has a consensus rating of “Hold” and a consensus price target of $61.62.

Fortive Trading Up 0.0%

Shares of FTV stock opened at $61.30 on Monday. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $73.77. The company has a market capitalization of $18.69 billion, a P/E ratio of 36.71 and a beta of 1.06. The firm has a 50-day moving average price of $59.21 and a 200 day moving average price of $56.75. 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 (NYSE:FTV) last announced its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts forecast 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 share buyback program on Monday, May 4th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.