Capital City Trust Co. FL Trims Stake in Fortive Co. (NYSE:FTV)

Capital City Trust Co. FL cut its stake in shares of Fortive Co. (NYSE:FTV) by 6.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,197 shares of the technology company’s stock after selling 877 shares during the quarter. Capital City Trust Co. FL’s holdings in Fortive were worth $898,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Fortive during the 3rd quarter worth approximately $25,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Fortive in the second quarter worth $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Fortive during the 3rd quarter valued at $28,000. First Command Advisory Services Inc. bought a new stake in shares of Fortive during the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC bought a new position in Fortive in the 4th quarter worth $38,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FTV shares. Mizuho raised their price target on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Royal Bank of Canada raised their price objective on Fortive from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 1st. Wells Fargo & Company raised their target price on shares of Fortive from $79.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Finally, Vertical Research lowered Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.85.

Fortive Price Performance

NYSE:FTV opened at $86.02 on Friday. Fortive Co. has a 52 week low of $62.70 and a 52 week high of $87.10. The stock’s fifty day moving average is $83.04 and its two-hundred day moving average is $75.20. The company has a market capitalization of $30.23 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.71 and a beta of 1.13. The company has a quick ratio of 1.75, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts expect that Fortive Co. will post 3.78 EPS for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 23rd were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.32 annualized dividend and a yield of 0.37%. Fortive’s dividend payout ratio is presently 13.11%.

Insiders Place Their Bets

In related news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock worth $5,475,122 over the last 90 days. Corporate insiders own 0.95% of the company’s stock.

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.