Bank of America Corp DE Sells 237,298 Shares of Fortive Corporation $FTV

Bank of America Corp DE lessened its holdings in Fortive Corporation (NYSE:FTV) by 13.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,550,282 shares of the technology company’s stock after selling 237,298 shares during the period. Bank of America Corp DE’s holdings in Fortive were worth $85,700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FTV. DV Equities LLC purchased a new position in Fortive during the fourth quarter valued at approximately $25,000. Root Financial Partners LLC lifted its holdings in Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after buying an additional 168 shares during the period. Main Street Group LTD purchased a new stake in Fortive during the first quarter worth $31,000. Geneos Wealth Management Inc. boosted its position in 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. Finally, Hantz Financial Services Inc. boosted its position in 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. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

NYSE FTV opened at $61.69 on Friday. The firm’s fifty day simple moving average is $61.15 and its two-hundred day simple moving average is $58.91. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $64.56. The firm has a market capitalization of $18.63 billion, a P/E ratio of 36.50 and a beta of 1.06.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Analysts forecast that Fortive Corporation will post 3.01 EPS for the current fiscal year.

Fortive announced that its Board of Directors has authorized a share buyback program on Monday, May 4th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 22nd were paid a $0.06 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is 14.20%.

Analyst Ratings Changes

Several research analysts have recently commented on FTV shares. JPMorgan Chase & Co. boosted their price target on Fortive from $63.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 12th. Truist Financial reaffirmed a “hold” rating and set a $68.00 price objective (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Citigroup lifted their target price on Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Weiss Ratings downgraded shares of Fortive from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. Finally, Morgan Stanley increased their price target on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.10.

Fortive 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.