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

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

A number of other hedge funds also recently modified their holdings of FTV. Wellington Management Group LLP lifted its position in shares of Fortive by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock valued at $1,415,902,000 after buying an additional 181,948 shares during the last quarter. Flossbach Von Storch AG boosted its position in Fortive by 4.8% during the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after purchasing an additional 512,414 shares during the period. Northern Trust Corp increased its stake in shares of Fortive by 2.3% in the third quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock worth $288,254,000 after purchasing an additional 85,560 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Fortive by 8.6% in the third quarter. Artisan Partners Limited Partnership now owns 3,294,446 shares of the technology company’s stock valued at $244,316,000 after purchasing an additional 260,404 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Fortive by 0.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,380,342 shares of the technology company’s stock worth $176,526,000 after buying an additional 14,400 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

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

Analyst Ratings Changes

FTV has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Wells Fargo & Company cut their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada lowered their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Citigroup reduced their price objective on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $86.46.

Fortive Trading Down 0.0 %

FTV opened at $76.08 on Monday. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.22 and a beta of 1.15. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The business has a 50 day simple moving average of $82.94 and a two-hundred day simple moving average of $76.18. 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 (NYSE:FTV) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. Analysts predict that Fortive Co. will post 3.81 EPS for the current year.

Fortive Dividend Announcement

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 issued 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 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.