M&T Bank Corp Purchases 58,463 Shares of Fortive Corporation $FTV

M&T Bank Corp boosted its position in shares of Fortive Corporation (NYSE:FTV - Free Report) by 272.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,916 shares of the technology company's stock after acquiring an additional 58,463 shares during the quarter. M&T Bank Corp's holdings in Fortive were worth $4,412,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Penobscot Investment Management Company Inc. purchased a new position in shares of Fortive in the fourth quarter worth approximately $206,000. Bayforest Capital Ltd bought a new position in Fortive in the 4th quarter worth $122,000. Fractal Investments LLC purchased a new position in Fortive during the fourth quarter valued at $464,000. Asset Management One Co. Ltd. lifted its position in Fortive by 19.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 178,605 shares of the technology company's stock valued at $10,025,000 after purchasing an additional 28,466 shares in the last quarter. Finally, Chicago Capital LLC bought a new stake in Fortive during the fourth quarter valued at about $218,000. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FTV shares. Wells Fargo & Company reduced their price target on Fortive from $65.00 to $58.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 1st. Morgan Stanley lifted their price objective on Fortive from $53.00 to $58.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 18th. Robert W. Baird set a $65.00 price objective on Fortive in a research note on Thursday, February 5th. Mizuho reissued an "underperform" rating and issued a $51.00 target price (down from $54.00) on shares of Fortive in a report on Monday, January 5th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Fortive in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Fortive currently has a consensus rating of "Hold" and an average price target of $60.00.

Insiders Place Their Bets

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

Fortive Price Performance

NYSE:FTV opened at $61.09 on Monday. The business's 50-day simple moving average is $57.39 and its two-hundred day simple moving average is $54.79. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $74.67. The stock has a market cap of $18.81 billion, a PE ratio of 35.31, a P/E/G ratio of 3.31 and a beta of 1.09. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36.

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 for the quarter, topping analysts' consensus estimates of $0.83 by $0.07. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, analysts forecast that Fortive Corporation will post 2.94 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, March 13th. Fortive's dividend payout ratio is presently 13.87%.

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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