Delta Global Management LP Sells 14,008 Shares of Fortive Corporation $FTV

Delta Global Management LP decreased its holdings in shares of Fortive Corporation (NYSE:FTV) by 31.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,881 shares of the technology company’s stock after selling 14,008 shares during the period. Delta Global Management LP’s holdings in Fortive were worth $1,650,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in Fortive by 208.8% during the third quarter. HighTower Advisors LLC now owns 32,938 shares of the technology company’s stock worth $1,614,000 after purchasing an additional 22,271 shares during the last quarter. Pacific Capital Partners Ltd acquired a new position in Fortive during the fourth quarter worth $1,794,000. Aberdeen Group plc boosted its holdings in Fortive by 12.0% during the fourth quarter. Aberdeen Group plc now owns 353,520 shares of the technology company’s stock worth $19,518,000 after purchasing an additional 37,828 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Fortive by 116.7% during the fourth quarter. SG Americas Securities LLC now owns 174,386 shares of the technology company’s stock worth $9,628,000 after purchasing an additional 93,896 shares during the last quarter. Finally, Clean Energy Transition LLP boosted its holdings in Fortive by 3.9% during the third quarter. Clean Energy Transition LLP now owns 1,174,960 shares of the technology company’s stock worth $57,561,000 after purchasing an additional 43,945 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup boosted their price target on Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wells Fargo & Company raised their price target on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Royal Bank Of Canada raised their price target on Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Three 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.62.

Fortive Stock Performance

Shares of NYSE FTV opened at $61.44 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The stock’s fifty day moving average price is $60.01 and its two-hundred day moving average price is $57.19. Fortive Corporation has a one year low of $46.34 and a one year high of $71.85. The firm has a market cap of $18.73 billion, a price-to-earnings ratio of 36.79 and a beta of 1.06.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating 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 firm 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 firm posted $0.85 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities analysts forecast that Fortive Corporation will post 2.97 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 22nd will be issued 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 is Monday, June 22nd. Fortive’s dividend payout ratio is currently 14.37%.

Fortive declared that its Board of Directors has approved a share repurchase plan on Monday, May 4th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, the senior vice president directly owned 87,780 shares of the company’s stock, valued at $5,337,901.80. This represents a 35.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

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.