OneDigital Investment Advisors LLC Reduces Stock Position in Fortive Corporation (NYSE:FTV)

OneDigital Investment Advisors LLC lowered its position in shares of Fortive Corporation (NYSE:FTV - Free Report) by 91.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,478 shares of the technology company's stock after selling 58,780 shares during the period. OneDigital Investment Advisors LLC's holdings in Fortive were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new stake in Fortive in the 4th quarter valued at approximately $26,000. American National Bank & Trust acquired a new position in shares of Fortive in the first quarter worth $26,000. Global X Japan Co. Ltd. grew its stake in shares of Fortive by 114.2% in the first quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock worth $28,000 after acquiring an additional 201 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Fortive in the fourth quarter worth $30,000. Finally, Quarry LP grew its stake in shares of Fortive by 229.6% in the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after acquiring an additional 349 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 14,327 shares of Fortive stock in a transaction on Monday, May 12th. The shares were sold at an average price of $73.88, for a total value of $1,058,478.76. Following the transaction, the senior vice president directly owned 51,750 shares in the company, valued at approximately $3,823,290. The trade was a 21.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James A. Lico sold 175,000 shares of Fortive stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the completion of the transaction, the chief executive officer owned 428,585 shares in the company, valued at approximately $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

Fortive Stock Performance

FTV traded down $0.40 on Friday, reaching $52.66. The company had a trading volume of 3,538,992 shares, compared to its average volume of 2,800,155. Fortive Corporation has a 1 year low of $50.00 and a 1 year high of $83.32. The stock has a market capitalization of $17.90 billion, a PE ratio of 23.10, a P/E/G ratio of 2.63 and a beta of 1.09. The company has a quick ratio of 0.78, a current ratio of 0.99 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $67.32 and a 200-day moving average price of $72.19.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates of $0.85. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the company earned $0.83 earnings per share. Fortive's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, research analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 27th that authorizes the company to repurchase 15,630,000 shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

FTV has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of Fortive from $72.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 1st. BNP Paribas restated a "neutral" rating on shares of Fortive in a research note on Thursday, June 12th. Barclays dropped their price target on shares of Fortive from $86.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Fortive from $87.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Finally, Raymond James Financial decreased their price objective on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, July 1st. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Fortive presently has an average rating of "Hold" and a consensus target price of $73.67.

About Fortive

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.