Capital Investment Services of America Inc. Sells 13,416 Shares of Fortive Co. (NYSE:FTV)

Capital Investment Services of America Inc. reduced its stake in Fortive Co. (NYSE:FTV) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 266,901 shares of the technology company’s stock after selling 13,416 shares during the quarter. Fortive makes up approximately 1.9% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 25th biggest position. Capital Investment Services of America Inc. owned approximately 0.08% of Fortive worth $20,018,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of Fortive by 22.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,152 shares of the technology company’s stock worth $456,000 after purchasing an additional 1,117 shares during the period. Cetera Investment Advisers increased its stake in Fortive by 7.5% in the 2nd quarter. Cetera Investment Advisers now owns 56,497 shares of the technology company’s stock worth $4,187,000 after buying an additional 3,951 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Fortive in the second quarter worth about $985,000. Czech National Bank grew its position in shares of Fortive by 6.4% during the third quarter. Czech National Bank now owns 71,368 shares of the technology company’s stock worth $5,633,000 after purchasing an additional 4,286 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Fortive by 65.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,683 shares of the technology company’s stock worth $133,000 after purchasing an additional 663 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

NYSE FTV opened at $79.39 on Thursday. The firm has a market capitalization of $27.54 billion, a P/E ratio of 31.63, a PEG ratio of 2.18 and a beta of 1.15. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The stock has a 50-day simple moving average of $77.65 and a two-hundred day simple moving average of $75.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Barclays reduced their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Royal Bank of Canada dropped their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.45.

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.01% of the stock is currently owned by company insiders.

Fortive Company 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.