Capital City Trust Co. FL Boosts Stock Holdings in Fortive Co. (NYSE:FTV)

Capital City Trust Co. FL boosted its position in Fortive Co. (NYSE:FTV) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,218 shares of the technology company’s stock after purchasing an additional 220 shares during the period. Capital City Trust Co. FL’s holdings in Fortive were worth $964,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FTV. Capital Performance Advisors LLP bought a new position in Fortive in the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. bought a new stake in shares of Fortive during the first quarter worth $32,000. Ridgewood Investments LLC bought a new position in shares of Fortive in the second quarter worth about $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive during the second quarter worth approximately $30,000. Finally, Goodman Advisory Group LLC bought a new stake in Fortive during the 2nd quarter valued at $31,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 1.0 %

Shares of NYSE:FTV opened at $74.82 on Monday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company’s fifty day moving average is $75.53 and its two-hundred day moving average is $74.16. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. Equities analysts anticipate that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s payout ratio is presently 12.75%.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 17.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,895 shares of company stock valued at $14,261,051. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Wells Fargo & Company decreased their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada lowered their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley assumed coverage on Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 target price for the company. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and a consensus price target of $87.82.

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.