Crestwood Advisors Group LLC Cuts Position in Fortive Corporation $FTV

Crestwood Advisors Group LLC reduced its holdings in Fortive Corporation (NYSE:FTV) by 20.2% during the 3rd quarter, Holdings Channel reports. The firm owned 65,175 shares of the technology company’s stock after selling 16,500 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Fortive were worth $3,193,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FTV. Vanguard Group Inc. boosted its holdings in Fortive by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock worth $2,054,644,000 after buying an additional 839,321 shares during the last quarter. Dodge & Cox increased its holdings in shares of Fortive by 51.5% in the second quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after purchasing an additional 11,273,242 shares during the last quarter. Viking Global Investors LP boosted its stake in Fortive by 22.9% during the second quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock worth $829,525,000 after buying an additional 2,962,502 shares during the last quarter. State Street Corp grew its holdings in Fortive by 0.7% in 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 in the last quarter. Finally, Flossbach Von Storch SE increased its stake in shares of Fortive by 1.6% in the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock worth $627,825,000 after acquiring an additional 189,027 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

FTV opened at $56.77 on Wednesday. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 3.07 and a beta of 1.12. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $55.58 and its 200 day moving average price is $51.73. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32.

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 net margin of 12.48% and a return on equity of 11.98%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. The business’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, sell-side analysts expect that Fortive Corporation will post 4.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FTV shares. Truist Financial restated a “hold” rating and set a $58.00 price objective (up from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Robert W. Baird set a $65.00 price target on shares of Fortive in a research note on Thursday, February 5th. JPMorgan Chase & Co. lifted their price target 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. Citigroup increased their price objective on Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Morgan Stanley lifted their target price on Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat, Fortive has a consensus rating of “Hold” and a consensus target price of $60.85.

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.