Destination Wealth Management Trims Stake in Fortive Corporation $FTV

Key Points

• Destination Wealth Management reduced its stake in Fortive by 95.9% in Q3, selling 302,322 shares and retaining 12,800 shares valued at $627,000.
• Fortive beat quarterly EPS estimates ($0.90 vs. $0.83) with revenue up 4.7% and set FY2026 guidance of $2.90–$3.00 EPS; analysts' consensus rating is "Hold" with a $60.85 price target.
• Director Kate Mitchell sold 7,131 shares (an 18.33% reduction in her position), and the company declared a $0.06 quarterly dividend (annualized $0.24, 0.4% yield; ex-dividend March 13).

Destination Wealth Management reduced its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 95.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,800 shares of the technology company's stock after selling 302,322 shares during the quarter. Destination Wealth Management's holdings in Fortive were worth $627,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FTV. Brighton Jones LLC increased its position in shares of Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company's stock worth $428,000 after purchasing an additional 2,811 shares during the last quarter. Empowered Funds LLC lifted its position in Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company's stock valued at $484,000 after purchasing an additional 430 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in 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 in the last quarter. Allworth Financial LP grew its stake in Fortive by 98.3% in the 2nd quarter. Allworth Financial LP now owns 1,259 shares of the technology company's stock worth $66,000 after buying an additional 624 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of Fortive during the 2nd quarter valued at $246,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Trading Down 1.0%

Shares of FTV opened at $53.74 on Tuesday. The stock has a market capitalization of $16.54 billion, a P/E ratio of 31.06, a PEG ratio of 2.93 and a beta of 1.10. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $76.54. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $56.37 and a two-hundred day simple moving average of $52.97.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 earnings per share (EPS) 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%. Fortive's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, research analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FTV. Weiss Ratings reiterated a "hold (c-)" rating on shares of Fortive in a research report on Monday, December 29th. Barclays lifted their price target on Fortive from $56.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Monday, February 9th. Wells Fargo & Company raised their price objective on Fortive from $59.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, February 5th. Citigroup upped their target price on Fortive from $59.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. increased 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.85.

Insiders Place Their Bets

In other news, Director Kate Mitchell sold 7,131 shares of Fortive stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total value of $416,022.54. Following the sale, the director directly owned 31,775 shares in the company, valued at approximately $1,853,753.50. This trade represents a 18.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.92% of the company's stock.

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.

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