Capital Investment Services of America Inc. Sells 16,160 Shares of Fortive Co. (NYSE:FTV)

Capital Investment Services of America Inc. lowered its holdings in shares of Fortive Co. (NYSE:FTV) by 5.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 280,317 shares of the technology company’s stock after selling 16,160 shares during the period. Fortive accounts for approximately 2.1% of Capital Investment Services of America Inc.’s portfolio, making the stock its 23rd biggest holding. Capital Investment Services of America Inc.’s holdings in Fortive were worth $22,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Ridgewood Investments LLC purchased a new position in shares of Fortive during the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new position in Fortive during the 2nd quarter valued at approximately $30,000. Goodman Advisory Group LLC purchased a new position in Fortive during the second quarter valued at $31,000. Advisors Asset Management Inc. bought a new stake in Fortive in the first quarter worth $32,000. Finally, Pinnacle Bancorp Inc. grew its stake in shares of Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Fortive Stock Performance

NYSE:FTV traded down $0.24 on Monday, hitting $71.10. The stock had a trading volume of 1,035,216 shares, compared to its average volume of 1,903,608. Fortive Co. has a 52-week low of $64.69 and a 52-week high of $87.10. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The business’s 50-day simple moving average is $75.27 and its two-hundred day simple moving average is $74.39.

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

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. Fortive’s dividend payout ratio (DPR) is 12.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FTV shares. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Wells Fargo & Company cut their price target on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Truist Financial reduced their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays lowered their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.20.

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.