King Luther Capital Management Corp Sells 38,931 Shares of Fortive Corporation $FTV

King Luther Capital Management Corp decreased its stake in Fortive Corporation (NYSE:FTV) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 408,627 shares of the technology company’s stock after selling 38,931 shares during the period. King Luther Capital Management Corp’s holdings in Fortive were worth $20,019,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its holdings in Fortive by 56.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 77,550 shares of the technology company’s stock valued at $3,799,000 after buying an additional 27,908 shares in the last quarter. Voya Investment Management LLC increased its holdings in Fortive by 14.0% during the 3rd quarter. Voya Investment Management LLC now owns 507,055 shares of the technology company’s stock worth $24,841,000 after acquiring an additional 62,127 shares during the period. Brookstone Capital Management increased its holdings in Fortive by 49.8% during the 3rd quarter. Brookstone Capital Management now owns 76,393 shares of the technology company’s stock worth $3,742,000 after acquiring an additional 25,397 shares during the period. Vanguard Group Inc. lifted its stake 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 purchasing an additional 839,321 shares in the last quarter. Finally, State Street Corp boosted 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 purchasing an additional 92,222 shares during the period. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kate Mitchell sold 7,131 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total transaction of $416,022.54. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is owned by corporate insiders.

Fortive Trading Down 0.9%

Shares of FTV opened at $57.80 on Friday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 3.14 and a beta of 1.12. The firm has a 50 day moving average price of $55.70 and a 200-day moving average price of $51.81. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, topping 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 company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the company earned $1.17 EPS. The firm’s 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, equities research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FTV. Wells Fargo & Company upped their price target on shares of Fortive from $59.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Mizuho reaffirmed an “underperform” rating and issued a $51.00 price target (down previously from $54.00) on shares of Fortive in a report on Monday, January 5th. JPMorgan Chase & Co. lifted their price target on Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, February 11th. Citigroup upped their price objective on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Zacks Research upgraded shares of Fortive from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortive currently has an average rating of “Hold” and a consensus target price of $60.85.

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.