Fortive Co. (NYSE:FTV) Reduction of position by BNP PARIBAS ASSET MANAGEMENT Holding SA

BNP PARIBAS ASSET MANAGEMENT Holding SA reduced its holdings in Fortive Co. (NYSE:FTV – Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 772,347 shares of the technology company’s stock after selling 71,011 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA’s holdings in Fortive were worth $57,231,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FTV. Nordea Investment Management AB raised its stake in Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after purchasing an additional 369,351 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Fortive by 104.3% in the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after buying an additional 188,415 shares during the period. California State Teachers Retirement System grew its position in Fortive by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock worth $42,496,000 after acquiring an additional 13,251 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after buying an additional 45,032 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Fortive by 6.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock worth $23,719,000 after acquiring an additional 17,225 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s shares.

Fortive price performance

Shares of NYSE FTV opened at $74.40 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95, and a current ratio of 1.23. The company’s 50-day simple moving average is $72.32, and its 200-day simple moving average is $77.47. The stock has a market cap of $26.19 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 2.06 and a beta of 1.12. Fortive Co. it has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm earned $0.85 EPS. The company’s quarterly revenue was up 1.7% year over year. As a group, research analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.08 per share. This represents a dividend of $0.32 on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

Analysts set new price targets

Several research analysts have issued reports on the company. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research note on Monday. July 8. Royal Bank of Canada cut their price target on Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, July 25th. Wells Fargo & Company cut their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. Finally, Truist Financial dropped their price objective on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.91.

Check out our latest review of Fortive

About Fortive

(Free report)

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 offers advanced tools, software and services, including electrical test and measurement, facility and asset lifecycle software, and connected worker security and compliance solutions for the manufacturing, process, healthcare, utilities and energy industries , communications and electronics, and other industries.

Featured stories

Want to see what other hedge funds own FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Fortive Co. (NYSE:FTV – Free Report).

Get news and reviews for Fortive Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Fortive and related companies with MarketBeat.com’s FREE daily email newsletter.