Drake & Associates LLC Boosts Holdings in Fortive Corporation $FTV

Drake & Associates LLC lifted its position in shares of Fortive Corporation (NYSE:FTV) by 40.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,747 shares of the technology company’s stock after purchasing 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.

A number of other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in Fortive by 815.4% in the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after buying an additional 424 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Fortive during the third quarter worth about $28,000. Exchange Traded Concepts LLC lifted its stake 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 worth $36,000 after acquiring an additional 236 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its stake in Fortive by 71.1% during the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock valued at $38,000 after purchasing an additional 325 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Down 5.2%

Shares of NYSE FTV opened at $58.67 on Thursday. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The company 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. The company has a current ratio of 0.71, a quick ratio of 0.58 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $55.35 and its 200 day simple moving average is $51.50.

Fortive (NYSE:FTV) last issued its earnings results 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. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Fortive had a return on equity of 11.98% and a net margin of 12.48%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. Equities research analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of recent analyst reports. Mizuho reaffirmed an “underperform” rating and issued a $51.00 target price (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. Wells Fargo & Company increased their price objective on shares of Fortive from $59.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Truist Financial reissued a “hold” rating and issued a $58.00 target price (up previously from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Citigroup increased their price target on shares of Fortive from $59.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortive in a research note on Monday, December 29th. Two 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 data from MarketBeat, Fortive currently has a consensus rating of “Hold” and an average target price of $60.85.

Fortive 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.