Park Avenue Securities LLC Sells 9,406 Shares of Fortive Corporation $FTV

Park Avenue Securities LLC reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 53.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,193 shares of the technology company’s stock after selling 9,406 shares during the quarter. Park Avenue Securities LLC’s holdings in Fortive were worth $401,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC raised its holdings in Fortive by 5.1% in the second quarter. Valeo Financial Advisors LLC now owns 4,078 shares of the technology company’s stock worth $213,000 after purchasing an additional 199 shares in the last quarter. Moody National Bank Trust Division grew its position in shares of Fortive by 4.3% in the 2nd quarter. Moody National Bank Trust Division now owns 5,749 shares of the technology company’s stock worth $300,000 after buying an additional 235 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Fortive by 46.7% during the 3rd 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. Blue Trust Inc. lifted its position in Fortive by 20.4% during the third quarter. Blue Trust Inc. now owns 1,612 shares of the technology company’s stock valued at $79,000 after acquiring an additional 273 shares during the last quarter. Finally, CNB Bank boosted its stake in Fortive by 4.0% in the second quarter. CNB Bank now owns 7,596 shares of the technology company’s stock valued at $396,000 after acquiring an additional 289 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “hold” rating and set a $58.00 price target (up from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Mizuho restated an “underperform” rating and set a $51.00 target price (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Barclays upped their target price on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Wells Fargo & Company raised their price target on Fortive from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. Finally, Citigroup upped their price objective on shares of Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Fortive presently has an average rating of “Hold” and an average target price of $57.77.

Fortive Trading Down 0.9%

Shares of NYSE:FTV opened at $54.99 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The stock has a market cap of $17.47 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 3.11 and a beta of 1.13. The business has a 50-day moving average price of $53.98 and a 200-day moving average price of $51.00.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Fortive’s revenue for the quarter was up 2.3% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. Equities analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, November 28th were paid a $0.06 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is presently 13.71%.

Insider Activity

In related news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the transaction, the senior vice president directly owned 59,488 shares in the company, valued at $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.92% of the stock is currently 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.