Fortive Corporation $FTV Shares Bought by Drake & Associates LLC

Drake & Associates LLC increased its position in Fortive Corporation (NYSE:FTV) by 40.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,747 shares of the technology company’s stock after acquiring an additional 15,482 shares during the period. Drake & Associates LLC’s holdings in Fortive were worth $2,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Exchange Traded Concepts LLC increased its position in shares of Fortive by 46.7% in the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after buying an additional 236 shares in the last quarter. Blue Trust Inc. grew its stake in Fortive by 20.4% in the 3rd quarter. Blue Trust Inc. now owns 1,612 shares of the technology company’s stock valued at $79,000 after acquiring an additional 273 shares during the last quarter. CNB Bank grew its stake in Fortive by 4.0% in the 2nd quarter. CNB Bank now owns 7,596 shares of the technology company’s stock valued at $396,000 after acquiring an additional 289 shares during the last quarter. CX Institutional increased its holdings in Fortive by 8.7% during the 3rd quarter. CX Institutional now owns 3,693 shares of the technology company’s stock valued at $181,000 after acquiring an additional 296 shares in the last quarter. Finally, Locust Wood Capital Advisers LLC raised its position in Fortive by 2.9% during the second quarter. Locust Wood Capital Advisers LLC now owns 10,500 shares of the technology company’s stock worth $547,000 after acquiring an additional 300 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Fortive from $56.00 to $63.00 and gave the stock an “equal weight” rating in a report on Monday. Mizuho reiterated an “underperform” rating and issued a $51.00 target price (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Morgan Stanley increased their target price on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. raised their price target on Fortive from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.85.

Fortive Trading Down 5.2%

Shares of FTV stock opened at $58.67 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm’s 50 day moving average price is $55.35 and its two-hundred day moving average price is $51.50. The stock has a market cap of $18.64 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 3.34 and a beta of 1.12.

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

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.