Fortive Co. (NYSE:FTV) Shares Purchased by Capital City Trust Co. FL

Capital City Trust Co. FL increased its holdings in shares of Fortive Co. (NYSE:FTV) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,208 shares of the technology company’s stock after acquiring an additional 990 shares during the quarter. Capital City Trust Co. FL’s holdings in Fortive were worth $991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank boosted its position in Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 10,125 shares during the last quarter. Principal Financial Group Inc. boosted its position in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after acquiring an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after acquiring an additional 7,829 shares during the last quarter. XTX Topco Ltd acquired a new position in Fortive during the third quarter worth about $1,346,000. Finally, Nordea Investment Management AB boosted its position in Fortive by 23.9% during the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after acquiring an additional 303,788 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FTV shares. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Finally, Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Fortive Price Performance

Fortive stock opened at $80.03 on Friday. The company’s 50 day simple moving average is $78.20 and its 200-day simple moving average is $76.07. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.71 and a beta of 1.15. 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 0.91 and a current ratio of 1.16.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, equities research analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is currently 13.56%.

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.