JPMorgan Chase & Co. Has $47.07 Million Stock Position in Fortive Corporation $FTV

JPMorgan Chase & Co. cut its holdings in shares of Fortive Corporation (NYSE:FTV) by 48.6% in the third quarter, Holdings Channel reports. The institutional investor owned 960,729 shares of the technology company’s stock after selling 909,015 shares during the quarter. JPMorgan Chase & Co.’s holdings in Fortive were worth $47,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC boosted its holdings in Fortive by 208.8% in the 3rd quarter. HighTower Advisors LLC now owns 32,938 shares of the technology company’s stock valued at $1,614,000 after purchasing an additional 22,271 shares during the period. Aberdeen Group plc raised its position in shares of Fortive by 1.2% during the third quarter. Aberdeen Group plc now owns 315,692 shares of the technology company’s stock valued at $15,440,000 after buying an additional 3,713 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Fortive by 2.5% in the third quarter. Metis Global Partners LLC now owns 39,244 shares of the technology company’s stock valued at $1,923,000 after buying an additional 951 shares during the period. Public Sector Pension Investment Board grew its position in Fortive by 13.7% during the third quarter. Public Sector Pension Investment Board now owns 29,266 shares of the technology company’s stock worth $1,434,000 after buying an additional 3,534 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in Fortive by 4.4% during the third quarter. Illinois Municipal Retirement Fund now owns 14,689 shares of the technology company’s stock valued at $720,000 after acquiring an additional 620 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FTV. Morgan Stanley raised their price objective on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Truist Financial reaffirmed a “hold” rating and issued a $58.00 target price (up from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Barclays boosted their price target on shares of Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fortive from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Wednesday, February 11th. One research 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 assigned a Sell rating to the company. According to MarketBeat, Fortive presently has a consensus rating of “Hold” and an average target price of $60.85.

Fortive Trading Up 2.5%

Shares of FTV stock opened at $59.78 on Friday. The company has a market capitalization of $18.99 billion, a P/E ratio of 34.55, a P/E/G ratio of 3.14 and a beta of 1.12. Fortive Corporation has a 12-month low of $46.34 and a 12-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 firm has a 50-day moving average price of $56.03 and a 200 day moving average price of $52.19.

Fortive (NYSE:FTV) last issued its quarterly earnings data 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 net margin of 12.48% and a return on equity of 11.98%. During the same quarter in the previous year, the business earned $1.17 EPS. Fortive’s revenue was up 4.7% compared to the same quarter last year. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

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

Insider Buying and Selling

In other Fortive news, Director Kate Mitchell sold 7,131 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $58.34, for a total value of $416,022.54. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

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.