Fortive Co. (NYSE:FTV) Position Cut by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in Fortive Co. (NYSE:FTV) 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 S.A.’s holdings in Fortive were worth $57,231,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FTV. Nordea Investment Management AB grew 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 in the last quarter. BNP Paribas Financial Markets boosted its stake in Fortive by 104.3% during the 1st quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after purchasing an additional 188,415 shares during the period. California State Teachers Retirement System increased 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 increased its holdings in shares of Fortive by 599.3% during the 1st quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after purchasing 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 1st 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 stock.

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 firm’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. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last issued 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 firm’s quarterly revenue was up 1.7% on a year-over-year basis. 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 $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 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 increased their price objective for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Royal Bank of Canada decreased 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 reduced 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 presently has an average rating of “Moderate Buy” and an average price target of $84.91.

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.