Amalgamated Bank Cuts Stake in Fortive Co. (NYSE:FTV)

Amalgamated Bank reduced its stake in Fortive Co. (NYSE:FTVGet Rating) by 6.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 86,852 shares of the technology company’s stock after selling 6,218 shares during the quarter. Amalgamated Bank’s holdings in Fortive were worth $5,292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howe & Rusling Inc. lifted its holdings in Fortive by 103.9% during the first quarter. Howe & Rusling Inc. now owns 418 shares of the technology company’s stock valued at $25,000 after purchasing an additional 213 shares during the last quarter. Riverview Trust Co purchased a new stake in Fortive during the first quarter valued at about $27,000. Core Alternative Capital lifted its holdings in Fortive by 74.3% during the first quarter. Core Alternative Capital now owns 502 shares of the technology company’s stock valued at $31,000 after purchasing an additional 214 shares during the last quarter. Allworth Financial LP lifted its holdings in Fortive by 52.0% during the first quarter. Allworth Financial LP now owns 737 shares of the technology company’s stock valued at $45,000 after purchasing an additional 252 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in Fortive during the first quarter valued at about $46,000. 94.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Fortive from $57.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday, August 1st. Loop Capital decreased their price target on Fortive from $84.00 to $78.00 and set a “buy” rating on the stock in a research report on Tuesday, July 19th. Robert W. Baird decreased their price target on Fortive from $81.00 to $77.00 in a research report on Friday, July 29th. Mizuho decreased their price target on Fortive from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, July 18th. Finally, Cowen decreased their price target on Fortive from $80.00 to $70.00 in a research report on Thursday, June 2nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.64.

Fortive Stock Up 1.9 %

Shares of NYSE FTV opened at $63.91 on Tuesday. Fortive Co. has a one year low of $52.47 and a one year high of $79.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.94 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $62.99 and its two-hundred day simple moving average is $60.23. The stock has a market capitalization of $22.73 billion, a P/E ratio of 35.51, a PEG ratio of 2.15 and a beta of 1.15.

Fortive (NYSE:FTVGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The technology company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Fortive had a net margin of 11.86% and a return on equity of 11.25%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the business earned $0.66 earnings per share. The business’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, analysts expect that Fortive Co. will post 3.11 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Tuesday, August 30th. Fortive’s payout ratio is currently 15.56%.

About Fortive

(Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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