Fortive Corporation $FTV Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management cut its Fortive stake by 60.4% in the fourth quarter, selling 21,787 shares and leaving it with 14,306 shares worth about $790,000.
• Fortive beat earnings expectations in its latest quarter, reporting $0.70 EPS versus the $0.64 estimate, while revenue rose 7.7% year over year to $2.14 billion.
• The company also authorized a new share buyback program for up to 20 million shares, even as a top executive sold a large block of stock and analysts maintained a mixed but mostly hold-leaning outlook.

Intech Investment Management LLC lowered its holdings in Fortive Corporation (NYSE:FTV - Free Report) by 60.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,306 shares of the technology company's stock after selling 21,787 shares during the period. Intech Investment Management LLC's holdings in Fortive were worth $790,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company's stock worth $37,000 after acquiring an additional 357 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of Fortive in the fourth quarter worth $45,000. Hantz Financial Services Inc. increased its position in shares of Fortive by 149.3% in the fourth quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company's stock worth $47,000 after acquiring an additional 506 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Fortive in the fourth quarter worth $49,000. Finally, Clearstead Trust LLC increased its position in shares of Fortive by 29.8% in the fourth quarter. Clearstead Trust LLC now owns 953 shares of the technology company's stock worth $53,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Price Performance

Shares of FTV stock opened at $61.23 on Tuesday. The firm has a market cap of $18.67 billion, a P/E ratio of 36.66 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $73.77. The firm has a fifty day moving average of $59.34 and a two-hundred day moving average of $56.83.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business earned $0.85 EPS. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts anticipate that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive declared that its board has initiated a share buyback program on Monday, May 4th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $60.81, for a total value of $2,891,941.17. Following the transaction, the senior vice president directly owned 87,780 shares in the company, valued at approximately $5,337,901.80. This trade represents a 35.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FTV. Morgan Stanley raised their price target on shares of Fortive from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, June 3rd. Argus raised shares of Fortive from a "hold" rating to a "buy" rating and set a $68.00 price target for the company in a report on Monday, May 11th. Truist Financial reaffirmed a "hold" rating and set a $61.00 price target (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Fortive in a report on Friday, May 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Fortive from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Fortive has a consensus rating of "Hold" and an average price target of $61.62.

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.

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