Oakwood Capital Management LLC CA lowered its stake in shares of Fortive Corporation (NYSE:FTV) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its stake in Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares in the last quarter. CENTRAL TRUST Co raised its stake in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares in the last quarter. Advisor Partners LLC raised its stake in shares of Fortive Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 7,150 shares of the technology company’s stock valued at $431,000 after buying an additional 51 shares during the period. Atria Investments LLC raised its stake in shares of Fortive Corporation by 1.4% in the second quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock valued at $289,000 after buying an additional 61 shares during the period. Finally, ING Groep NV raised its stake in shares of Fortive Corporation by 0.6% in the second quarter. ING Groep NV now owns 15,448 shares of the technology company’s stock valued at $979,000 after buying an additional 89 shares during the period. Institutional investors own 78.55% of the company’s stock.
Fortive Corporation (NYSE FTV) opened at 65.03 on Friday. Fortive Corporation has a 1-year low of $46.81 and a 1-year high of $67.48. The stock has a market capitalization of $22.57 billion, a P/E ratio of 25.61 and a beta of 0.23. The stock has a 50 day moving average of $64.70 and a 200 day moving average of $61.61.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 EPS. On average, analysts expect that Fortive Corporation will post $2.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, August 25th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. Fortive Corporation’s payout ratio is 11.02%.
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Several analysts have recently issued reports on FTV shares. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research report on Monday, July 24th. Morgan Stanley lowered shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 target price (up previously from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fortive Corporation in a research report on Monday, May 22nd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.82.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total transaction of $233,450.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,956 shares of company stock worth $1,392,744. 12.10% of the stock is owned by corporate 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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