Citigroup Inc. Has $19.85 Million Stock Position in Fortive Corporation $FTV

Citigroup Inc. lessened its holdings in Fortive Corporation (NYSE:FTV) by 23.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 405,164 shares of the technology company’s stock after selling 126,264 shares during the period. Citigroup Inc. owned 0.13% of Fortive worth $19,849,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FTV. Dodge & Cox raised its holdings in 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 in the last quarter. Norges Bank acquired a new position in shares of Fortive during the 2nd quarter valued at about $357,602,000. Viking Global Investors LP raised its stake in shares of Fortive by 22.9% in the 2nd quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock valued at $829,525,000 after acquiring an additional 2,962,502 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Fortive by 132.8% in the 3rd quarter. Pacer Advisors Inc. now owns 3,222,299 shares of the technology company’s stock worth $157,860,000 after purchasing an additional 1,838,120 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Fortive by 24.6% during the second quarter. Invesco Ltd. now owns 7,010,216 shares of the technology company’s stock worth $365,443,000 after purchasing an additional 1,383,254 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FTV shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortive in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on shares of Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a report on Wednesday, February 11th. Citigroup lifted their price objective on Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Barclays increased their target price on Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $58.00 price target (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 assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.85.

Fortive Stock Up 2.5%

FTV stock opened at $59.78 on Friday. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $80.86. The company has a quick ratio of 0.58, a current ratio of 0.71 and a debt-to-equity ratio of 0.36. The company has a market cap of $18.99 billion, a PE ratio of 34.55, a price-to-earnings-growth ratio of 3.14 and a beta of 1.12. The business’s 50-day simple moving average is $56.03 and its 200 day simple moving average is $52.19.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. 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 in the prior year, the company posted $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Fortive’s payout ratio is 13.87%.

Insider Activity

In other news, Director Kate Mitchell sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $58.34, for a total transaction of $416,022.54. Following the completion of the transaction, the director directly owned 31,775 shares of the company’s stock, valued at approximately $1,853,753.50. This trade represents a 18.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

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.