Fortive Corporation $FTV Shares Purchased by Capital City Trust Co. FL

Capital City Trust Co. FL increased its stake in shares of Fortive Corporation (NYSE:FTV) by 3.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,752 shares of the technology company’s stock after acquiring an additional 488 shares during the period. Capital City Trust Co. FL’s holdings in Fortive were worth $717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dodge & Cox lifted its position in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after acquiring an additional 14,120,456 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fortive by 50.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after acquiring an additional 4,382,242 shares in the last quarter. Invesco Ltd. lifted its position in Fortive by 96.6% during the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after acquiring an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. lifted its position in Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after acquiring an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Fortive by 2.8% during the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after acquiring an additional 109,307 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FTV has been the topic of several recent research reports. Melius Research raised Fortive to a “hold” rating in a research report on Tuesday, July 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $50.00 target price (down from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. TD Cowen lowered Fortive from a “buy” rating to a “hold” rating and cut their target price for the company from $85.00 to $50.00 in a research report on Tuesday, July 15th. Wells Fargo & Company cut their target price on Fortive from $72.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 1st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $55.00 target price (down from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, Fortive has a consensus rating of “Hold” and an average target price of $62.79.

Fortive Price Performance

Shares of FTV opened at $50.43 on Friday. The company has a market cap of $17.06 billion, a P/E ratio of 22.71, a PEG ratio of 3.20 and a beta of 1.15. The stock has a fifty day moving average price of $48.35 and a 200 day moving average price of $59.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02). The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%.Fortive’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. On average, research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio is presently 10.81%.

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.