Munich Reinsurance Co Stock Corp in Munich Sells 172,978 Shares of Fortive Corporation $FTV

Key Points

• Munich Reinsurance reduced its Fortive stake by 57.2% in the second quarter, selling 172,978 shares and retaining 129,261 shares valued at approximately $7.9 million. Institutional investors own 94.94% of Fortive’s outstanding stock.
• Analysts maintain a generally neutral outlook, with Fortive receiving a consensus “Hold” rating and an average price target of $63.10. Shares recently traded at $56.97, down 1.0%.
• Fortive exceeded quarterly earnings and revenue expectations, reporting $0.74 EPS and $1.10 billion in revenue, while raising its quarterly dividend from $0.06 to $0.07 per share.

Munich Reinsurance Co Stock Corp in Munich reduced its stake in shares of Fortive Corporation (NYSE:FTV - Free Report) by 57.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,261 shares of the technology company's stock after selling 172,978 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Fortive were worth $7,897,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of Fortive during the 4th quarter valued at $20,387,000. WINTON GROUP Ltd bought a new position in Fortive in the 4th quarter worth $6,729,000. ABN Amro Investment Solutions purchased a new stake in Fortive in the 4th quarter worth $1,229,000. Arrowstreet Capital Limited Partnership purchased a new stake in Fortive in the 1st quarter worth $11,854,000. Finally, Hsbc Holdings PLC raised its holdings in Fortive by 7.0% during the fourth quarter. Hsbc Holdings PLC now owns 2,026,810 shares of the technology company's stock valued at $112,066,000 after acquiring an additional 133,447 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. 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. 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. Weiss Ratings downgraded Fortive from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, August 27th. Argus reissued a "buy" rating and issued a $68.00 price target on shares of Fortive in a report on Wednesday, August 19th. Finally, Morgan Stanley upped their price target on Fortive from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 3rd. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $63.10.

Fortive Trading Down 1.0%

Shares of Fortive stock opened at $56.97 on Friday. Fortive Corporation has a twelve month low of $47.01 and a twelve month 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. The business has a 50-day moving average price of $60.69 and a 200-day moving average price of $59.42. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 2.39 and a beta of 1.05.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. Fortive had a return on equity of 15.33% and a net margin of 12.38%.The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.950-3.050 EPS. Equities research analysts anticipate that Fortive Corporation will post 3.02 EPS for the current fiscal year.

Fortive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Fortive's previous quarterly dividend of $0.06. Fortive's dividend payout ratio is presently 14.20%.

Insider Activity

In other news, SVP Peter C. Underwood sold 8,662 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $61.59, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source