TD Asset Management Inc Sells 75,298 Shares of Fortive Corporation $FTV

TD Asset Management Inc trimmed its holdings in shares of Fortive Corporation (NYSE:FTV) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,137 shares of the technology company’s stock after selling 75,298 shares during the period. TD Asset Management Inc’s holdings in Fortive were worth $21,098,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FTV. Root Financial Partners LLC raised its stake in shares of Fortive by 43.6% during the fourth quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after buying an additional 168 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the last quarter. Dorato Capital Management bought a new stake in shares of Fortive during the fourth quarter worth approximately $45,000. Hantz Financial Services Inc. raised its stake in shares of Fortive by 149.3% during the fourth quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock worth $47,000 after buying an additional 506 shares during the last quarter. Finally, Dunhill Financial LLC raised its stake in shares of Fortive by 8,300.0% during the third quarter. Dunhill Financial LLC now owns 1,008 shares of the technology company’s stock worth $49,000 after buying an additional 996 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Fortive in a research note on Friday, May 22nd. Morgan Stanley boosted their price target on shares of Fortive from $58.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday. 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 research note on Monday, May 11th. Citigroup boosted their price target on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Fortive presently has an average rating of “Hold” and a consensus target price of $61.62.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. This represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company’s stock.

Fortive Stock Up 0.0%

Shares of NYSE:FTV opened at $61.30 on Monday. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $73.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71. The company has a market capitalization of $18.69 billion, a PE ratio of 36.71 and a beta of 1.06. The company has a 50 day moving average price of $59.21 and a two-hundred day moving average price of $56.75.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 30th. The technology company reported $0.70 EPS for the quarter, beating 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 firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The business’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. Analysts forecast that Fortive Corporation will post 2.97 earnings per share for the current year.

Fortive announced that its Board of Directors has approved a stock buyback plan on Monday, May 4th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.