Oakwood Capital Management LLC CA reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,995 shares of the technology company’s stock after selling 1,655 shares during the period. Oakwood Capital Management LLC CA’s holdings in Fortive Corporation were worth $3,421,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Fortive Corporation during the first quarter valued at about $115,464,000. Marshall Wace North America L.P. bought a new position in shares of Fortive Corporation during the first quarter valued at about $115,464,000. Prudential Financial Inc. boosted its position in shares of Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock valued at $130,112,000 after buying an additional 1,130,600 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Fortive Corporation by 149.5% in the first quarter. William Blair Investment Management LLC now owns 1,880,734 shares of the technology company’s stock valued at $113,258,000 after buying an additional 1,126,991 shares during the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.
Fortive Corporation (FTV) traded up 0.11% during midday trading on Friday, reaching $65.60. The company had a trading volume of 705,331 shares. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.48. The firm’s 50-day moving average price is $64.38 and its 200 day moving average price is $61.16. The firm has a market capitalization of $22.77 billion, a PE ratio of 25.84 and a beta of 0.23.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts anticipate that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is presently 11.02%.
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FTV has been the subject of several recent research reports. Morgan Stanley cut Fortive Corporation from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $61.00 to $65.00 in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Cowen and Company boosted their target price on Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 19th. Zacks Investment Research cut Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $61.82.
In related news, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total value of $233,450.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total value of $725,413.02. Following the completion of the transaction, the vice president now owns 5,020 shares in the company, valued at $312,796.20. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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