Hsbc Holdings PLC Buys 281,418 Shares of Fortive Corporation $FTV

Key Points

• HSBC increased its Fortive stake by 39.4% in the second quarter, buying 281,418 additional shares for a total of 996,271 shares valued at approximately $60.9 million. Institutional investors collectively own 94.94% of Fortive.
• Analysts maintain a generally cautious view, with Fortive receiving an average rating of “Hold” and a consensus price target of $63.10; ratings include two Buys, eight Holds, and two Sells.
• Fortive reported quarterly earnings of $0.74 per share and revenue of $1.10 billion, exceeding estimates, while raising its quarterly dividend from $0.06 to $0.07 per share.

Hsbc Holdings PLC increased its position in Fortive Corporation (NYSE:FTV - Free Report) by 39.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 996,271 shares of the technology company's stock after acquiring an additional 281,418 shares during the quarter. Hsbc Holdings PLC owned about 0.33% of Fortive worth $60,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Fortive by 7.4% in the second quarter. Wellington Management Group LLP now owns 30,631 shares of the technology company's stock worth $1,871,000 after purchasing an additional 2,104 shares during the period. Rakuten Investment Management Inc. bought a new stake in shares of Fortive during the 2nd quarter valued at $2,955,000. North Star Asset Management Inc. bought a new stake in shares of Fortive during the 2nd quarter valued at $357,000. Empowered Funds LLC purchased a new position in shares of Fortive during the 2nd quarter valued at $1,150,000. Finally, United Capital Financial Advisors LLC purchased a new position in shares of Fortive during the 2nd quarter valued at $598,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FTV shares. Weiss Ratings lowered Fortive from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. Truist Financial restated a "hold" rating and issued a $68.00 price objective (up from $67.00) on shares of Fortive in a research report on Thursday, July 30th. Morgan Stanley upped their price objective on Fortive from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on Fortive from $63.00 to $64.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 12th. Finally, Argus reissued a "buy" rating and set a $68.00 target price on shares of Fortive in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Fortive presently has an average rating of "Hold" and a consensus price target of $63.10.

Insider Buying and Selling

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

Fortive Stock Up 0.1%

Shares of FTV opened at $56.97 on Tuesday. The company has a market cap of $17.21 billion, a PE ratio of 33.71, a P/E/G ratio of 2.36 and a beta of 1.05. The business has a fifty day moving average of $60.61 and a 200 day moving average of $59.44. Fortive Corporation has a 52-week low of $47.01 and a 52-week high of $64.56. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 0.58.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.74 earnings per share 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 analysts' expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. On average, sell-side analysts expect that Fortive Corporation will post 3.02 EPS for the current year.

Fortive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, September 4th. This is a positive change from Fortive's previous quarterly dividend of $0.06. Fortive's payout ratio is currently 16.57%.

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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