Cannell & Spears LLC Sells 10,409 Shares of Fortive Corporation $FTV

Cannell & Spears LLC decreased its holdings in shares of Fortive Corporation (NYSE:FTV) by 51.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,697 shares of the technology company’s stock after selling 10,409 shares during the quarter. Cannell & Spears LLC’s holdings in Fortive were worth $534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacific Capital Partners Ltd acquired a new position in shares of Fortive in the 4th quarter valued at $1,794,000. Aberdeen Group plc boosted its position in shares of Fortive by 12.0% in the 4th quarter. Aberdeen Group plc now owns 353,520 shares of the technology company’s stock worth $19,518,000 after purchasing an additional 37,828 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Fortive during the fourth quarter worth $20,387,000. ABN Amro Investment Solutions acquired a new stake in shares of Fortive during the fourth quarter worth $1,229,000. Finally, SG Americas Securities LLC increased its holdings in Fortive by 116.7% in the fourth quarter. SG Americas Securities LLC now owns 174,386 shares of the technology company’s stock valued at $9,628,000 after purchasing an additional 93,896 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company increased their target price on shares of Fortive from $58.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Royal Bank Of Canada lifted their price target on shares of Fortive from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Citigroup boosted their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, 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 report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Fortive has a consensus rating of “Hold” and a consensus target price of $63.00.

Fortive Trading Up 0.1%

NYSE:FTV opened at $62.39 on Monday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $64.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The stock has a market capitalization of $18.87 billion, a PE ratio of 37.36 and a beta of 1.06. The business’s 50-day simple moving average is $60.82 and its 200-day simple moving average is $58.54.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a return on equity of 12.66% and a net margin of 12.84%.Fortive’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Sell-side analysts expect that Fortive Corporation will post 2.98 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 22nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s dividend payout ratio is currently 14.37%.

Fortive declared that its board has initiated a share buyback program on Monday, May 4th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the sale, the senior vice president directly owned 87,780 shares in the company, valued at $5,337,901.80. This trade represents a 35.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by corporate 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.