Fortive Co. (NYSE:FTV) Stake Decreased by Amalgamated Bank

Amalgamated Bank trimmed its holdings in Fortive Co. (NYSE:FTV) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,351 shares of the technology company’s stock after selling 1,353 shares during the quarter. Amalgamated Bank’s holdings in Fortive were worth $5,287,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FTV. Indiana Trust & Investment Management CO acquired a new position in Fortive during the 1st quarter worth $26,000. Ridgewood Investments LLC bought a new position in Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in Fortive during the 2nd quarter valued at about $30,000. Advisors Asset Management Inc. bought a new stake in shares of Fortive during the 1st quarter worth about $32,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Fortive in the 2nd quarter worth approximately $34,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FTV shares. Morgan Stanley initiated coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price on the stock. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Finally, Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.23.

Fortive Trading Down 1.2 %

NYSE:FTV opened at $76.34 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The stock’s 50 day moving average price is $72.43 and its 200 day moving average price is $76.23. The company has a market capitalization of $26.87 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.11 and a beta of 1.11.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business earned $0.85 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, research analysts forecast that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is 12.65%.

Insider Activity

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Fortive Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.