Amalgamated Bank Trims Stock Holdings in Fortive Co. (NYSE:FTV)

Amalgamated Bank trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,986 shares of the technology company’s stock after selling 5,586 shares during the quarter. Amalgamated Bank’s holdings in Fortive were worth $6,478,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FTV. OFI Invest Asset Management purchased a new position in Fortive during the 3rd quarter valued at about $25,000. Cornerstone Planning Group LLC bought a new position in Fortive in the third quarter worth approximately $28,000. Cetera Trust Company N.A bought a new position in Fortive in the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in Fortive during the third quarter worth $30,000. Finally, Fortitude Family Office LLC bought a new stake in Fortive during the 4th quarter valued at $38,000. 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 a number of analyst reports. Mizuho upped their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Truist Financial initiated coverage on shares of Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Barclays lifted their price target on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada dropped their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 25th. Finally, Wells Fargo & Company decreased their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.46.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the sale, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is owned by company insiders.

Fortive Trading Down 0.0 %

NYSE FTV opened at $76.08 on Monday. The company has a fifty day moving average of $82.94 and a 200 day moving average of $76.18. The company has a market capitalization of $26.78 billion, a PE ratio of 30.07, a P/E/G ratio of 2.22 and a beta of 1.15. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Research analysts forecast that Fortive Co. will post 3.81 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

About Fortive

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.