Assenagon Asset Management S.A. Sells 58,734 Shares of Fortive Corporation $FTV

Assenagon Asset Management S.A. reduced its stake in Fortive Corporation (NYSE:FTV) by 80.4% during the first quarter, Holdings Channel.com reports. The firm owned 14,336 shares of the technology company’s stock after selling 58,734 shares during the period. Assenagon Asset Management S.A.’s holdings in Fortive were worth $792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after acquiring an additional 2,811 shares during the last quarter. Empowered Funds LLC lifted its holdings in Fortive by 6.9% in the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after buying an additional 430 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Fortive by 87.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after buying an additional 1,062 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Fortive by 3.3% during the second quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock valued at $4,201,000 after buying an additional 2,548 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total value of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares of the company’s stock, valued at $5,337,901.80. The trade was a 35.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Fortive Trading Up 1.5%

NYSE FTV opened at $62.70 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $19.12 billion, a PE ratio of 37.55 and a beta of 1.06. The stock’s 50 day moving average is $60.46 and its 200 day moving average is $57.81. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $63.40.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts forecast that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 22nd will be 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 is Monday, June 22nd. Fortive’s dividend payout ratio (DPR) is presently 14.37%.

Analyst Ratings Changes

A number of brokerages recently commented on FTV. Truist Financial upped their target price on Fortive from $61.00 to $67.00 and gave the company a “hold” rating in a report on Thursday. Zacks Research cut shares of Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Royal Bank Of Canada boosted their price objective on shares of Fortive from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Finally, Citigroup raised their target price on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $61.83.

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.