Hsbc Holdings PLC Reduces Position in Fortive Corporation $FTV

Hsbc Holdings PLC lessened its holdings in shares of Fortive Corporation (NYSE:FTV) by 64.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 714,853 shares of the technology company’s stock after selling 1,311,957 shares during the quarter. Hsbc Holdings PLC owned about 0.23% of Fortive worth $39,469,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction that occurred on 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 completion of the sale, the senior vice president directly 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 document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Fortive Price Performance

NYSE:FTV opened at $61.07 on Tuesday. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $64.33. The stock has a fifty day moving average of $60.68 and a 200 day moving average of $58.37. 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 firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 36.57 and a beta of 1.06.

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 return on equity of 12.66% and a net margin of 12.84%.The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $0.85 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, research analysts expect that Fortive Corporation will post 2.97 EPS for the current fiscal year.

Fortive announced that its board has initiated a share repurchase program on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Fortive Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on FTV. JPMorgan Chase & Co. boosted their price objective on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Tuesday, May 12th. Truist Financial raised their target price on Fortive from $61.00 to $67.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley lifted their target price on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Zacks Research cut Fortive from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company increased their price target on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average target price of $62.91.

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.