AXQ Capital LP Buys New Shares in Fortive Corporation $FTV

AXQ Capital LP purchased a new position in shares of Fortive Corporation (NYSE:FTV) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,343 shares of the technology company’s stock, valued at approximately $654,000.

Several other large investors have also added to or reduced their stakes in FTV. True Wealth Design LLC increased its holdings in shares of Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares during the period. Quent Capital LLC acquired a new stake in shares of Fortive during the third quarter worth about $28,000. Exchange Traded Concepts LLC boosted its position in 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 during the last quarter. Geneos Wealth Management Inc. increased its holdings in Fortive by 246.2% in 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 period. Finally, J.Safra Asset Management Corp increased its holdings in Fortive by 71.1% in the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock worth $38,000 after buying an additional 325 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

FTV has been the subject of several research reports. Barclays lifted their price objective 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Royal Bank Of Canada boosted their target price on shares of Fortive from $56.00 to $65.00 and gave the company a “sector perform” rating in a research report on Thursday, February 5th. Citigroup upped their price target on shares of Fortive from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Truist Financial reiterated a “hold” rating and set a $58.00 price objective (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.85.

Fortive Trading Up 0.9%

Shares of Fortive stock opened at $57.71 on Wednesday. The firm has a 50-day simple moving average of $55.86 and a two-hundred day simple moving average of $52.09. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.58 and a current ratio of 0.71. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $80.86. The company has a market cap of $18.33 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 3.08 and a beta of 1.12.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $1.12 billion during 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%.Fortive’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, equities analysts predict that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Insider Activity at Fortive

In other news, Director Kate Mitchell sold 7,131 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was 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 $1,853,753.50. This represents a 18.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is owned by company insiders.

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.