Fortive Corporation $FTV Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its stake in shares of Fortive Corporation (NYSE:FTV) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,281 shares of the technology company’s stock after selling 4,169 shares during the quarter. Truist Financial Corp’s holdings in Fortive were worth $4,550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Union Bancaire Privee UBP SA boosted its position in shares of Fortive by 21.1% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 13,416 shares of the technology company’s stock worth $699,000 after acquiring an additional 2,338 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Fortive by 114.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 26,506 shares of the technology company’s stock valued at $1,382,000 after acquiring an additional 14,120 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in Fortive by 2.8% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 22,050 shares of the technology company’s stock valued at $1,149,000 after acquiring an additional 607 shares during the last quarter. V Square Quantitative Management LLC raised its stake in Fortive by 8.2% during the 2nd quarter. V Square Quantitative Management LLC now owns 10,096 shares of the technology company’s stock valued at $526,000 after acquiring an additional 763 shares during the last quarter. Finally, GraniteShares Advisors LLC raised its stake in shares of Fortive by 10.3% during the 2nd quarter. GraniteShares Advisors LLC now owns 7,349 shares of the technology company’s stock worth $383,000 after buying an additional 688 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Down 0.8%

NYSE:FTV opened at $49.64 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.15. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The business’s 50-day simple moving average is $48.30 and its 200 day simple moving average is $59.57.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. As a group, sell-side analysts predict that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.06 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s dividend payout ratio is presently 10.81%.

Analysts Set New Price Targets

A number of research firms recently weighed in on FTV. Cowen cut Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Barclays set a $54.00 price target on Fortive and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Mizuho lowered their price target on Fortive from $85.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Wall Street Zen upgraded Fortive to a “hold” rating in a report on Friday, September 5th. Finally, Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Four analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.79.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.