Amalgamated Bank Sells 2,216 Shares of Fortive Co. (NYSE:FTV)

Amalgamated Bank reduced its stake in 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. The fund 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Hawaiian Bank grew its position in 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. grew its holdings in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after buying an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 in the last quarter. XTX Topco Ltd bought a new stake in shares of Fortive during the third quarter valued at approximately $1,346,000. Finally, Nordea Investment Management AB raised its holdings in 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 currently owned by institutional investors.

Fortive Price Performance

Shares of NYSE:FTV opened at $79.61 on Friday. The firm’s 50 day moving average price is $78.60 and its 200-day moving average price is $76.40. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The stock has a market capitalization 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 Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $0.98 EPS. Equities research analysts expect that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is 13.56%.

Insiders Place Their Bets

In other Fortive news, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

FTV has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. UBS Group began coverage on Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Truist Financial raised their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

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.