Fri Sep 20 08:37:05 UTC 2024: ## Argent Trust Boosts Stake in Fortive, Institutional Investors Show Interest

**New York, NY (MarketBeat News)** – Argent Trust Co. increased its holdings in Fortive Co. (NYSE: FTV) by 2.3% during the second quarter, according to a recent SEC filing. The firm now owns 15,811 shares of the technology company’s stock, valued at $1,172,000. This move by Argent Trust follows a trend of increased interest in Fortive from institutional investors.

Several other hedge funds and institutional investors have also bought and sold shares of FTV in recent quarters. Notable among these include Indiana Trust & Investment Management CO, Ridgewood Investments LLC, International Assets Investment Management LLC, Advisors Asset Management Inc., and J.Safra Asset Management Corp. Overall, institutional investors currently own 94.94% of Fortive’s stock.

Meanwhile, Fortive executives have been actively trading their own shares. SVP Jonathan L. Schwarz sold 14,223 shares on September 13th, while CFO Charles E. Mclaughlin sold 6,864 shares on the same date. Insiders currently own 1.01% of the company’s stock.

Fortive recently reported strong second-quarter earnings, exceeding analysts’ expectations. The company’s revenue for the quarter was up 1.7% year-over-year, and analysts are forecasting continued growth in the coming year.

The company also declared a quarterly dividend of $0.08 per share, payable on September 27th.

Recent analyst reports have been mixed. While TD Cowen upgraded Fortive to a “buy” rating, Wolfe Research downgraded the stock to “peer perform.” Overall, analysts have a “Moderate Buy” rating on Fortive, with a consensus price target of $86.23.

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. The company operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.

Read More