First American Bank Reduces Position in Fortive Co. (NYSE:FTV)

First American Bank lessened its stake in shares of Fortive Co. (NYSE:FTV) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,470 shares of the technology company’s stock after selling 283 shares during the period. First American Bank’s holdings in Fortive were worth $1,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Investments LLC purchased a new stake in Fortive in the 3rd quarter valued at about $247,000. Forsta AP Fonden boosted its holdings in Fortive by 12.0% in the third quarter. Forsta AP Fonden now owns 76,700 shares of the technology company’s stock valued at $6,054,000 after purchasing an additional 8,200 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Fortive by 24.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,673 shares of the technology company’s stock valued at $2,350,000 after buying an additional 5,909 shares during the period. Middleton & Co. Inc. MA grew its holdings in Fortive by 0.8% during the 3rd quarter. Middleton & Co. Inc. MA now owns 130,908 shares of the technology company’s stock worth $10,333,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Fortive by 4.7% during the third quarter. Ballentine Partners LLC now owns 6,745 shares of the technology company’s stock worth $532,000 after purchasing an additional 300 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’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 directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Stock Performance

NYSE:FTV opened at $74.97 on Monday. Fortive Co. has a 1-year low of $63.50 and a 1-year high of $87.10. The firm has a 50 day simple moving average of $75.16 and a 200-day simple moving average of $74.70. The firm has a market cap of $26.26 billion, a PE ratio of 30.11, a P/E/G ratio of 2.21 and a beta of 1.12. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio is presently 12.85%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FTV shares. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. Wells Fargo & Company increased their price target on shares of Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $90.00 in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.10.

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.