BNP Paribas Financial Markets Grows Stake in Fortive Co. (NYSE:FTV)

BNP Paribas Financial Markets raised its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,429 shares of the technology company's stock after purchasing an additional 15,305 shares during the period. BNP Paribas Financial Markets owned 0.16% of Fortive worth $41,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Parvin Asset Management LLC purchased a new stake in Fortive during the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Fortive in the fourth quarter valued at $31,000. Crews Bank & Trust bought a new stake in shares of Fortive in the 4th quarter worth about $37,000. Albion Financial Group UT purchased a new position in shares of Fortive during the 4th quarter worth about $38,000. Finally, Quarry LP grew its holdings in Fortive by 229.6% during the 4th quarter. Quarry LP now owns 501 shares of the technology company's stock valued at $38,000 after purchasing an additional 349 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Price Performance

FTV opened at $68.05 on Thursday. The firm has a market capitalization of $23.13 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The business's 50-day moving average is $70.39 and its two-hundred day moving average is $75.00. Fortive Co. has a 1 year low of $60.39 and a 1 year high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business posted $0.83 EPS. Fortive's revenue was down 3.3% on a year-over-year basis. Research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. Fortive's payout ratio is 14.04%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, February 10th. Truist Financial cut their price objective on Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Citigroup decreased their target price on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada upped their price target on shares of Fortive from $68.00 to $72.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Finally, StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.85.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 over the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

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.

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