Fortive Corporation $FTV Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 23.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,707 shares of the technology company’s stock after selling 37,670 shares during the period. Wedge Capital Management L L P NC’s holdings in Fortive were worth $6,664,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FTV. Dodge & Cox raised its stake in Fortive by 28.4% during the third quarter. Dodge & Cox now owns 42,595,794 shares of the technology company’s stock worth $2,086,768,000 after purchasing an additional 9,422,189 shares during the period. Viking Global Investors LP boosted its holdings in shares of Fortive by 28.7% in the 3rd quarter. Viking Global Investors LP now owns 20,483,680 shares of the technology company’s stock valued at $1,003,495,000 after purchasing an additional 4,571,056 shares during the last quarter. State Street Corp grew its stake in shares of Fortive by 0.7% during the 2nd quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock valued at $738,013,000 after buying an additional 92,222 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Fortive by 55.2% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,709,913 shares of the technology company’s stock worth $426,699,000 after buying an additional 3,096,711 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Fortive by 7.1% during the 3rd quarter. Invesco Ltd. now owns 7,507,930 shares of the technology company’s stock worth $367,814,000 after buying an additional 497,714 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fortive

In related news, Director Kate Mitchell sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total transaction of $416,022.54. Following the transaction, the director directly owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. The trade was a 18.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.

Fortive Stock Performance

NYSE:FTV opened at $53.95 on Friday. The firm’s fifty day simple moving average is $56.34 and its 200 day simple moving average is $53.40. 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 Corporation has a twelve month low of $46.34 and a twelve month high of $74.67. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 2.91 and a beta of 1.10.

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

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, March 13th. Fortive’s dividend payout ratio (DPR) is presently 13.87%.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Mizuho restated an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Zacks Research upgraded Fortive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. Robert W. Baird set a $65.00 price objective on Fortive in a research note on Thursday, February 5th. Finally, Wells Fargo & Company boosted their target price on Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.23.

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.