FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $1.80 Million Position in Fortive Co. (NYSE:FTV)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in Fortive Co. (NYSE:FTV) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,819 shares of the technology company’s stock after purchasing an additional 207 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Fortive were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTV. Indiana Trust & Investment Management CO bought a new position in shares of Fortive during the 1st quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in Fortive in the second quarter worth $30,000. International Assets Investment Management LLC bought a new stake in Fortive in the second quarter valued at $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive during the second quarter valued at about $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Fortive in the 1st quarter valued at about $32,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Price Performance

NYSE FTV opened at $78.01 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The company has a market capitalization of $27.33 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 2.24 and a beta of 1.12. The stock has a 50-day moving average of $73.55 and a 200 day moving average of $75.41. Fortive Co. has a one year low of $63.05 and a one year high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion for 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 company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. On average, sell-side analysts forecast that Fortive Co. will post 3.82 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s payout ratio is 12.85%.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’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 value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FTV. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $92.00 in a research note on Thursday. Truist Financial lifted their price objective on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their target price 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. Finally, Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.36.

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.