47,411 Fortive Corporation $FTV Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its Fortive stake by 6.3%, selling 47,411 shares and retaining 709,436 shares valued at approximately $38.9 million. Institutional investors collectively own 94.94% of Fortive.
• Analyst sentiment is broadly neutral, with an average “Hold” rating and a consensus price target of $61.64; recent targets range from $56 to $68.
• Fortive reported quarterly EPS of $0.74 and revenue of $1.10 billion, exceeding estimates, while raising its quarterly dividend from $0.06 to $0.07 per share.

Perpetual Ltd decreased its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 709,436 shares of the technology company's stock after selling 47,411 shares during the period. Perpetual Ltd owned about 0.23% of Fortive worth $38,884,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Dakota Community Bank & Trust NA boosted its position in Fortive by 42.9% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 1,002 shares of the technology company's stock valued at $55,000 after buying an additional 301 shares during the period. GAMMA Investing LLC grew its stake in Fortive by 20.2% in the 3rd quarter. GAMMA Investing LLC now owns 4,728 shares of the technology company's stock worth $259,000 after acquiring an additional 793 shares in the last quarter. North Point Portfolio Managers Corp OH purchased a new position in shares of Fortive during the third quarter worth approximately $44,000. QRG Capital Management Inc. increased its position in shares of Fortive by 13.8% during the second quarter. QRG Capital Management Inc. now owns 17,973 shares of the technology company's stock worth $1,098,000 after acquiring an additional 2,175 shares during the period. Finally, Security National Bank of Sioux City Iowa IA increased its position in shares of Fortive by 28.0% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 13,954 shares of the technology company's stock worth $852,000 after acquiring an additional 3,052 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity

In related news, SVP Peter C. Underwood sold 8,662 shares of Fortive stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $61.59, for a total transaction of $533,492.58. Following the transaction, the senior vice president directly owned 79,118 shares of the company's stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Argus reiterated a "buy" rating and issued a $68.00 price target on shares of Fortive in a report on Wednesday, August 19th. Evercore began coverage on Fortive in a research note on Monday, September 28th. They issued a "hold" rating and a $60.00 price objective on the stock. Truist Financial reduced their price objective on Fortive from $68.00 to $63.00 and set a "hold" rating on the stock in a report on Monday, October 5th. JPMorgan Chase & Co. decreased their target price on Fortive from $64.00 to $56.00 and set an "underweight" rating for the company in a research report on Friday. Finally, Weiss Ratings lowered Fortive from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $61.64.

Fortive Stock Up 0.0%

NYSE:FTV opened at $57.27 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.24 and a quick ratio of 1.00. Fortive Corporation has a 1-year low of $47.95 and a 1-year high of $64.56. The company has a 50-day moving average of $57.88 and a 200 day moving average of $59.30. The firm has a market cap of $17.30 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 2.37 and a beta of 1.07.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Fortive had a net margin of 12.38% and a return on equity of 15.33%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $0.90 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. As a group, research analysts anticipate that Fortive Corporation will post 3.02 EPS for the current fiscal year.

Fortive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of $0.07 per share. This is a boost from Fortive's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, September 4th. Fortive's payout ratio is 16.57%.

Fortive Company Profile

Fortive Corporation NYSE: FTV is a diversified industrial technology company that develops and provides connected products, software, and services for customers in healthcare, manufacturing, infrastructure, and other regulated or asset-intensive industries. Its offerings are designed to improve productivity, operating efficiency, safety, compliance, and the reliability of critical equipment and processes.

The company's businesses have included electronic test and measurement instruments, calibration and asset-management solutions, workplace and public-safety products, industrial software, and healthcare technologies.

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