Cannell & Spears LLC Sells 179,339 Shares of Fortive Corporation $FTV

Cannell & Spears LLC decreased its position in shares of Fortive Corporation (NYSE:FTV) by 61.0% in the third quarter, HoldingsChannel reports. The fund owned 114,725 shares of the technology company’s stock after selling 179,339 shares during the quarter. Cannell & Spears LLC’s holdings in Fortive were worth $5,620,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after purchasing an additional 357 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Fortive during the 3rd quarter valued at $28,000. Exchange Traded Concepts LLC lifted its holdings in shares of Fortive by 46.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after purchasing an additional 236 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of Fortive by 71.1% in the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock worth $38,000 after purchasing an additional 325 shares in the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Fortive during the 2nd quarter worth $48,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FTV shares. Royal Bank Of Canada upped their target price on Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Wells Fargo & Company raised their price target on Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Zacks Research upgraded shares of Fortive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, February 11th. Finally, Citigroup lifted 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, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Fortive has a consensus rating of “Hold” and a consensus price target of $60.85.

Insider Transactions at Fortive

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $1,853,753.50. This trade represents a 18.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Fortive Stock Performance

Shares of FTV opened at $54.23 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71. The stock has a 50-day moving average of $56.37 and a two-hundred day moving average of $52.93. The stock has a market cap of $16.69 billion, a P/E ratio of 31.34, a P/E/G ratio of 2.93 and a beta of 1.10. Fortive Corporation has a one year low of $46.34 and a one year high of $76.54.

Fortive (NYSE:FTV) last announced its quarterly earnings data 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%.During the same period last year, the firm earned $1.17 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Dividend Announcement

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

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.