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

Amalgamated Bank cut its stake in shares of Fortive Co. (NYSE:FTV) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,705 shares of the technology company’s stock after selling 2,216 shares during the period. Amalgamated Bank’s holdings in Fortive were worth $5,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. First Hawaiian Bank increased its position in shares of Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 10,125 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after buying an additional 10,795 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock valued at $2,832,000 after acquiring an additional 7,829 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Fortive in the third quarter valued at $1,346,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Fortive by 23.9% in the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after acquiring an additional 303,788 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Stock Down 0.4 %

NYSE:FTV opened at $79.61 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a 50-day moving average of $78.60 and a 200 day moving average of $76.40. The firm has a market cap of $27.62 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter last year, the business earned $0.98 EPS. As a group, research analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is currently 13.56%.

Insider Activity at Fortive

In other Fortive news, CEO James A. Lico sold 196,117 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the transaction, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FTV. Royal Bank of Canada upped their price target on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. JPMorgan Chase & Co. cut their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Fortive Company 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.