Thrivent Financial for Lutherans Trims Stock Position in Fortive Corporation $FTV

Thrivent Financial for Lutherans decreased its position in shares of Fortive Corporation (NYSE:FTV) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 128,629 shares of the technology company’s stock after selling 18,000 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Fortive were worth $6,301,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Fortive by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock valued at $2,054,644,000 after purchasing an additional 839,321 shares during the period. Dodge & Cox lifted its stake in Fortive by 51.5% in the second quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after buying an additional 11,273,242 shares during the last quarter. Viking Global Investors LP boosted its holdings in shares of 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 acquiring an additional 2,962,502 shares during the period. State Street Corp grew its position in shares of Fortive by 0.7% during the second quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock worth $738,013,000 after acquiring an additional 92,222 shares during the last quarter. Finally, Flossbach Von Storch SE increased its holdings in shares of Fortive by 1.6% in the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after acquiring an additional 189,027 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE FTV opened at $60.15 on Friday. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 3.25 and a beta of 1.12. The business’s 50 day moving average is $54.91 and its two-hundred day moving average is $51.31. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FTV shares. Truist Financial reiterated a “hold” rating and set a $58.00 price target (up previously from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Citigroup increased their target price on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird set a $65.00 price target on Fortive in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lifted their target price on Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Fortive currently has a consensus rating of “Hold” and a consensus price target of $59.85.

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.