Fortive Corporation $FTV Shares Purchased by CIBC Asset Management Inc

by · The Markets Daily

CIBC Asset Management Inc increased its stake in shares of Fortive Corporation (NYSE:FTV – Free Report) by 58.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,440 shares of the technology company’s stock after purchasing an additional 27,712 shares during the period. CIBC Asset Management Inc’s holdings in Fortive were worth $4,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FTV. Root Financial Partners LLC raised its position in shares of Fortive by 43.6% during the 4th quarter. Root Financial Partners LLC now owns 553 shares of the technology company’s stock worth $31,000 after purchasing an additional 168 shares during the last quarter. Geneos Wealth Management Inc. raised 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 valued at $37,000 after acquiring an additional 357 shares during the last quarter. Dorato Capital Management acquired a new stake in Fortive in the 4th quarter valued at about $45,000. Hantz Financial Services Inc. raised its holdings in Fortive by 149.3% in the 4th quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock valued at $47,000 after acquiring an additional 506 shares during the last quarter. Finally, Dunhill Financial LLC raised its holdings in Fortive by 8,300.0% in the 3rd quarter. Dunhill Financial LLC now owns 1,008 shares of the technology company’s stock valued at $49,000 after acquiring an additional 996 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Down 0.3%

Shares of NYSE FTV opened at $61.30 on Friday. The company has a 50 day simple moving average of $59.21 and a 200-day simple moving average of $56.71. The company has a market capitalization of $18.69 billion, a P/E ratio of 36.71, a P/E/G ratio of 3.29 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $73.77.

Fortive (NYSE:FTV – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 EPS. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. On average, equities research analysts predict that Fortive Corporation will post 2.97 earnings per share for the current year.

Fortive declared that its board has authorized a share buyback program on Monday, May 4th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on FTV shares. Wells Fargo & Company increased their price objective on shares of Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Barclays increased their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $63.00 to $64.00 and gave the company an “underweight” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley increased their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.62.

Read Our Latest Research Report on FTV

Insider Activity

In other news, SVP Peter C. Underwood sold 47,557 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the completion of the sale, the senior vice president owned 87,780 shares in the company, valued at $5,337,901.80. This trade represents a 35.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

About Fortive

(Free Report)

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.

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