AXQ Capital LP Acquires Shares of 13,343 Fortive Corporation $FTV

AXQ Capital LP bought a new position in Fortive Corporation (NYSE:FTV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,343 shares of the technology company’s stock, valued at approximately $654,000.

A number of other large investors have also recently made changes to their positions in FTV. Vanguard Group Inc. lifted its stake in Fortive by 2.2% in the second quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock worth $2,054,644,000 after purchasing an additional 839,321 shares during the last quarter. Dodge & Cox grew its stake in shares of Fortive by 51.5% during the second 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 during the last quarter. Viking Global Investors LP raised its holdings in shares of Fortive by 22.9% in the second quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock worth $829,525,000 after buying an additional 2,962,502 shares during the period. State Street Corp lifted its stake in shares of Fortive by 0.7% during the 2nd 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 during the last quarter. Finally, Flossbach Von Storch SE boosted its holdings in Fortive by 1.6% during the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after acquiring an additional 189,027 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the sale, the director owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. The trade was a 18.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.92% of the stock is owned by company insiders.

Fortive Trading Up 0.9%

Shares of NYSE:FTV opened at $57.71 on Wednesday. The business’s 50-day moving average is $55.86 and its 200 day moving average is $52.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.71 and a quick ratio of 0.58. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $80.86. The firm has a market capitalization of $18.33 billion, a P/E ratio of 33.36, a P/E/G ratio of 3.08 and a beta of 1.12.

Fortive (NYSE:FTV) last issued 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 return on equity of 11.98% and a net margin of 12.48%.The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the company earned $1.17 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, research analysts predict that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on FTV. Barclays upped their price objective on Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research report on Monday, February 9th. Royal Bank Of Canada raised their price target on shares of Fortive from $56.00 to $65.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 5th. Wells Fargo & Company lifted their price objective on shares of Fortive from $59.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Citigroup upped their target price on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Truist Financial reaffirmed a “hold” rating and set a $58.00 target price (up from $55.00) on shares of Fortive in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.85.

Fortive 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.