Oakwood Capital Management LLC CA lifted its position in shares of Fortive Corp (NYSE:FTV) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,690 shares of the technology company’s stock after acquiring an additional 4,245 shares during the quarter. Fortive accounts for approximately 2.8% of Oakwood Capital Management LLC CA’s portfolio, making the stock its 13th largest holding. Oakwood Capital Management LLC CA’s holdings in Fortive were worth $6,578,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new stake in Fortive during the first quarter worth about $25,000. Glassman Wealth Services boosted its holdings in Fortive by 158.8% during the first quarter. Glassman Wealth Services now owns 308 shares of the technology company’s stock worth $26,000 after buying an additional 189 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new stake in Fortive during the first quarter worth about $29,000. Paragon Capital Management LLC purchased a new stake in Fortive during the first quarter worth about $34,000. Finally, Aspire Private Capital LLC boosted its holdings in Fortive by 514.7% during the first quarter. Aspire Private Capital LLC now owns 418 shares of the technology company’s stock worth $35,000 after buying an additional 350 shares in the last quarter. Institutional investors and hedge funds own 83.49% of the company’s stock.
Shares of NYSE FTV traded down $1.34 on Friday, hitting $70.50. The company’s stock had a trading volume of 1,160,021 shares, compared to its average volume of 1,948,994. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $89.48. The stock has a market cap of $24.10 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The company has a 50 day simple moving average of $78.75.
A number of research firms recently commented on FTV. Cowen downgraded shares of Fortive from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $75.00 to $65.00 in a report on Monday, June 3rd. Gordon Haskett downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Argus reissued a “buy” rating on shares of Fortive in a report on Tuesday, April 30th. Berenberg Bank began coverage on shares of Fortive in a report on Wednesday, May 15th. They set a “buy” rating and a $96.00 price objective on the stock. Finally, Raymond James set a $84.00 price objective on shares of Fortive and gave the stock an “outperform” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.87.
In other Fortive news, VP Emily A. Weaver sold 650 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $80.92, for a total value of $52,598.00. Following the sale, the vice president now owns 9,146 shares of the company’s stock, valued at $740,094.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Emily A. Weaver sold 519 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $80.98, for a total transaction of $42,028.62. Following the completion of the transaction, the vice president now directly owns 8,627 shares of the company’s stock, valued at approximately $698,614.46. The disclosure for this sale can be found here. Insiders sold 55,615 shares of company stock worth $4,164,759 in the last ninety days. Insiders own 12.70% of the company’s stock.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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