Capital City Trust Co. FL Acquires 220 Shares of Fortive Co. (NYSE:FTV)

Capital City Trust Co. FL lifted its stake in shares of Fortive Co. (NYSE:FTV) by 1.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,218 shares of the technology company’s stock after acquiring an additional 220 shares during the period. Capital City Trust Co. FL’s holdings in Fortive were worth $964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avantax Advisory Services Inc. purchased a new stake in Fortive in the first quarter worth $253,000. Acadian Asset Management LLC bought a new stake in Fortive in the first quarter valued at $184,000. Edgestream Partners L.P. purchased a new stake in Fortive in the first quarter worth $383,000. Rockport Wealth LLC purchased a new stake in shares of Fortive in the 1st quarter worth approximately $286,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in Fortive by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,844 shares of the technology company’s stock worth $1,277,000 after buying an additional 2,055 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 1.0 %

Shares of Fortive stock opened at $74.82 on Monday. The firm’s 50 day simple moving average is $75.53 and its two-hundred day simple moving average is $74.16. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.05 and a beta of 1.13. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive’s payout ratio is 12.75%.

Insider Activity

In other news, 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 transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock valued at $14,261,051 in the last ninety days. Insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on FTV shares. Morgan Stanley began coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. Royal Bank of Canada decreased their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Argus restated a “hold” rating on shares of Fortive in a research report on Monday. Truist Financial dropped their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Company 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.