Envestnet Asset Management Inc. Sells 204,685 Shares of Fortive Corporation $FTV

Envestnet Asset Management Inc. reduced its position in Fortive Corporation (NYSE:FTV) by 68.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,365 shares of the technology company’s stock after selling 204,685 shares during the period. Envestnet Asset Management Inc.’s holdings in Fortive were worth $4,525,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FTV. Vanguard Group Inc. lifted its holdings in shares of Fortive by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock valued at $2,054,644,000 after purchasing an additional 839,321 shares during the last quarter. Dodge & Cox increased its position in Fortive by 51.5% during the 2nd quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after buying an additional 11,273,242 shares in the last quarter. Viking Global Investors LP raised its stake in Fortive by 22.9% in the second quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock valued at $829,525,000 after buying an additional 2,962,502 shares during the last quarter. State Street Corp boosted its holdings in Fortive by 0.7% in the second quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock worth $738,013,000 after acquiring an additional 92,222 shares in the last quarter. Finally, Flossbach Von Storch SE grew its stake in shares of Fortive by 1.6% during the second quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock worth $627,825,000 after acquiring an additional 189,027 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kate Mitchell sold 7,131 shares of Fortive stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total value of $416,022.54. Following the sale, the director directly owned 31,775 shares in the company, valued at approximately $1,853,753.50. The trade was a 18.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Fortive Stock Performance

NYSE FTV opened at $57.11 on Tuesday. The stock has a market capitalization of $18.14 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 3.14 and a beta of 1.12. The stock has a 50-day moving average of $55.80 and a 200 day moving average of $52.01. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $80.86.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Fortive had a return on equity of 11.98% and a net margin of 12.48%.Fortive’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Sell-side analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on FTV shares. Morgan Stanley upped their price target on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Truist Financial reaffirmed a “hold” rating and set a $58.00 price target (up previously from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Barclays lifted their target price on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday, February 9th. Finally, Citigroup upped their price objective on shares of Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.85.

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.