Zurcher Kantonalbank Zurich Cantonalbank Sells 11,611 Shares of Fortive Corporation $FTV

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Fortive Corporation (NYSE:FTV) by 2.9% in the 4th quarter, HoldingsChannel reports. The fund owned 383,839 shares of the technology company’s stock after selling 11,611 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fortive were worth $21,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTV. Brighton Jones LLC increased its position in shares of Fortive by 97.1% during the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after acquiring an additional 2,811 shares in the last quarter. Empowered Funds LLC increased its position in shares of Fortive by 6.9% during the first quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after acquiring an additional 430 shares in the last quarter. Geneos Wealth Management Inc. increased its position 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 acquiring an additional 357 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Fortive by 87.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of Fortive by 3.3% during the second quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock worth $4,201,000 after acquiring an additional 2,548 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Stock Up 0.1%

Fortive stock opened at $61.04 on Wednesday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $74.67. The stock has a market cap of $18.79 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. The firm’s 50-day simple moving average is $57.16 and its 200 day simple moving average is $54.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.07. Fortive had a net margin of 12.48% and a return on equity of 11.98%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $1.17 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts predict that Fortive Corporation will post 2.95 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, March 13th. Fortive’s payout ratio is presently 13.87%.

Wall Street Analyst Weigh In

FTV has been the subject of several recent research reports. Truist Financial decreased their target price on shares of Fortive from $57.00 to $56.00 and set a “hold” rating for the company in a research report on Monday. Citigroup boosted their price target on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Robert W. Baird set a $65.00 price target on shares of Fortive in a report on Thursday, February 5th. Morgan Stanley boosted their price target on shares of Fortive from $53.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Finally, Barclays boosted their price target on shares of Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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 business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total value of $416,022.54. Following the transaction, the director directly owned 31,775 shares in the company, valued at $1,853,753.50. The trade was a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by insiders.

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.