TD Asset Management Inc Sells 358,609 Shares of Fortive Corporation $FTV

TD Asset Management Inc lowered its stake in shares of Fortive Corporation (NYSE:FTV) by 43.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,435 shares of the technology company’s stock after selling 358,609 shares during the quarter. TD Asset Management Inc owned about 0.14% of Fortive worth $22,410,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Weitz Investment Management Inc. increased its position in shares of Fortive by 2.1% in the third quarter. Weitz Investment Management Inc. now owns 46,400 shares of the technology company’s stock worth $2,273,000 after purchasing an additional 950 shares during the period. Mufg Securities Americas Inc. grew its stake in Fortive by 21.1% during the third quarter. Mufg Securities Americas Inc. now owns 9,124 shares of the technology company’s stock worth $447,000 after buying an additional 1,592 shares in the last quarter. AXQ Capital LP bought a new position in Fortive in the 3rd quarter valued at about $654,000. Tredje AP fonden raised its position in shares of Fortive by 28.2% in the 3rd quarter. Tredje AP fonden now owns 227,600 shares of the technology company’s stock valued at $11,150,000 after buying an additional 50,000 shares in the last quarter. Finally, Studio Investment Management LLC lifted its holdings in shares of Fortive by 18.4% during the 3rd quarter. Studio Investment Management LLC now owns 5,894 shares of the technology company’s stock worth $289,000 after acquiring an additional 914 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Down 1.0%

NYSE:FTV opened at $59.17 on Friday. Fortive Corporation has a one year low of $46.34 and a one year high of $80.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. The company has a market cap of $18.22 billion, a PE ratio of 34.20, a P/E/G ratio of 3.20 and a beta of 1.12. The firm’s 50 day simple moving average is $56.11 and its 200 day simple moving average is $52.30.

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. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

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

Insider Activity at Fortive

In other news, Director Kate Mitchell sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total transaction of $416,022.54. Following the completion of the transaction, the director directly owned 31,775 shares in the company, valued at $1,853,753.50. This trade represents a 18.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FTV. Citigroup lifted their price target on Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. boosted their target price on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Fortive in a research note on Monday, December 29th. Royal Bank Of Canada lifted their price target on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Finally, Robert W. Baird set a $65.00 price objective on shares of Fortive in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.85.

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.