Fortive Corporation $FTV Stake Lifted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its stake in shares of Fortive Corporation (NYSE:FTV) by 30.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,041,097 shares of the technology company’s stock after buying an additional 702,927 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Fortive were worth $167,899,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FTV. Brighton Jones LLC grew its stake in Fortive by 97.1% during the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after buying an additional 2,811 shares during the last quarter. Empowered Funds LLC grew its stake in Fortive by 6.9% during the 1st quarter. Empowered Funds LLC now owns 6,619 shares of the technology company’s stock worth $484,000 after buying an additional 430 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after buying an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Fortive by 87.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,270 shares of the technology company’s stock worth $118,000 after buying an additional 1,062 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Fortive by 3.3% in the second quarter. Cerity Partners LLC now owns 80,595 shares of the technology company’s stock worth $4,201,000 after purchasing an additional 2,548 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 47,557 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $60.81, for a total value of $2,891,941.17. Following the completion of the sale, the senior vice president directly owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. This represents a 35.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of research analyst reports. Truist Financial reissued a “hold” rating and set a $61.00 price target (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Zacks Research downgraded shares of Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Monday, May 11th. Barclays raised their target price on shares of Fortive from $56.00 to $63.00 and gave the company an “equal weight” rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada boosted 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. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.62.

Fortive Stock Up 0.0%

Shares of FTV stock opened at $61.30 on Monday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $73.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.57 and a current ratio of 0.71. The business’s fifty day moving average is $59.21 and its 200-day moving average is $56.75. The stock has a market cap of $18.69 billion, a PE ratio of 36.71 and a beta of 1.06.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.06. Fortive had a return on equity of 12.66% and a net margin of 12.84%.The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities analysts expect that Fortive Corporation will post 2.97 earnings per share for the current fiscal year.

Fortive announced that its board has approved a stock repurchase plan on Monday, May 4th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.