Capital City Trust Co. FL Increases Stock Holdings in Fortive Corporation $FTV

Capital City Trust Co. FL grew its position in Fortive Corporation (NYSE:FTV) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,752 shares of the technology company’s stock after buying an additional 488 shares during the quarter. Capital City Trust Co. FL’s holdings in Fortive were worth $717,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FTV. Dodge & Cox increased its position in shares of Fortive by 181.5% in the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after buying an additional 14,120,456 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 4,382,242 shares in the last quarter. Invesco Ltd. increased 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 purchasing an additional 2,764,432 shares in the last quarter. Pacer Advisors Inc. increased its position in Fortive by 4,854.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company’s stock worth $106,208,000 after purchasing an additional 1,422,030 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Fortive during the 1st quarter worth about $76,671,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 1.3%

Shares of NYSE:FTV opened at $50.43 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The stock has a market capitalization 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 50-day simple moving average of $48.35 and a 200-day simple moving average of $59.92.

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

Fortive Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on FTV. Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Cowen cut Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, July 15th. Truist Financial reiterated a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Fortive in a research report on Thursday, July 31st. Wells Fargo & Company dropped their price objective on Fortive from $72.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 1st. Finally, Melius cut Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Fortive has an average rating of “Hold” and an average target price of $62.79.

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.