Amalgamated Bank Has $5.29 Million Stake in Fortive Co. (NYSE:FTV)

Amalgamated Bank reduced its holdings in Fortive Co. (NYSE:FTV) by 1.9% during the 2nd quarter, according to its most recent 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.

A number of other large investors have also bought and sold shares of FTV. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Fortive by 60.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 30,574 shares of the technology company’s stock worth $2,266,000 after acquiring an additional 11,526 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Fortive by 16.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,487 shares of the technology company’s stock valued at $1,074,000 after buying an additional 2,001 shares during the last quarter. Argent Trust Co increased its stake in shares of Fortive by 2.3% in the 2nd quarter. Argent Trust Co now owns 15,811 shares of the technology company’s stock valued at $1,172,000 after buying an additional 348 shares during the period. Clearstead Trust LLC raised its position in shares of Fortive by 77.7% during the second quarter. Clearstead Trust LLC now owns 1,299 shares of the technology company’s stock worth $96,000 after acquiring an additional 568 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in Fortive by 275.7% in the second quarter. Citizens Financial Group Inc. RI now owns 10,072 shares of the technology company’s stock valued at $746,000 after acquiring an additional 7,391 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Fortive Stock Down 1.2 %

Shares of FTV opened at $76.34 on Friday. The firm has a 50 day simple moving average of $72.43 and a two-hundred day simple moving average of $76.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The company has a market cap 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 earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Research analysts forecast that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTV. Truist Financial decreased their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Morgan Stanley initiated coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective on the stock. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, TD Cowen raised Fortive from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $86.23.

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.