King Luther Capital Management Corp Has $18.11 Million Stock Position in Fortive Corporation $FTV

Key Points

• King Luther Capital Management reduced its Fortive stake by 19.7% in the fourth quarter, ending with 328,001 shares worth about $18.1 million.
• Fortive reported better-than-expected quarterly earnings of $0.70 per share on revenue of $2.14 billion, with revenue rising 7.7% year over year. The company also issued FY 2026 EPS guidance of 2.900 to 3.000.
• Fortive’s board authorized a 20 million-share buyback program, while analysts currently rate the stock a consensus Hold with a target price of $61.54.

King Luther Capital Management Corp lowered its stake in Fortive Corporation (NYSE:FTV - Free Report) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,001 shares of the technology company's stock after selling 80,626 shares during the period. King Luther Capital Management Corp owned 0.10% of Fortive worth $18,109,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 47,557 shares of Fortive stock in a transaction on Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the completion of the transaction, the senior vice president owned 87,780 shares of the company's stock, valued at $5,337,901.80. This trade represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Fortive from $63.00 to $64.00 and gave the company an "underweight" rating in a research report on Tuesday, May 12th. Truist Financial restated a "hold" rating and issued a $61.00 target price (up from $56.00) on shares of Fortive in a research report on Monday, May 4th. Barclays raised their price target on shares of Fortive from $56.00 to $63.00 and gave the company an "equal weight" rating in a research note on Monday, February 9th. Zacks Research downgraded shares of Fortive from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. 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 research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of "Hold" and a consensus target price of $61.54.

Fortive Price Performance

Shares of NYSE FTV opened at $59.95 on Thursday. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $73.77. The firm has a fifty day simple moving average of $58.55 and a 200 day simple moving average of $56.33. The company has a market capitalization of $18.28 billion, a PE ratio of 35.90, a P/E/G ratio of 3.24 and a beta of 1.09. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.43.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.85 earnings per share. Fortive's quarterly revenue was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, sell-side analysts forecast that Fortive Corporation will post 2.96 EPS for the current year.

Fortive declared that its Board of Directors has authorized a share repurchase program on Monday, May 4th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the technology company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Fortive 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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