BNP Paribas Financial Markets Has $45.25 Million Holdings in Fortive Corporation $FTV

Key Points

• BNP Paribas Financial Markets increased its holdings in Fortive Corporation by 12.5% in Q1, acquiring an additional 68,913 shares, which now represents about 0.18% of Fortive's total shares valued at $45.25 million.
• Fortive's quarterly earnings fell short of analyst expectations with an EPS of $0.58, missing the consensus estimate of $0.60, as the company reported a revenue decline of 0.4% year-over-year.
• Several analysts have projected a significant reduction in price targets for Fortive, with most ratings indicating a "hold," and a consensus average price target of $65.57.

BNP Paribas Financial Markets lifted its position in shares of Fortive Corporation (NYSE:FTV - Free Report) by 12.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 618,342 shares of the technology company's stock after buying an additional 68,913 shares during the period. BNP Paribas Financial Markets owned approximately 0.18% of Fortive worth $45,250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Dodge & Cox boosted its position in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company's stock worth $1,602,669,000 after purchasing an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company's stock valued at $959,567,000 after purchasing an additional 4,382,242 shares in the last quarter. Invesco Ltd. raised its stake in shares of Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company's stock valued at $411,781,000 after purchasing an additional 2,764,432 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Fortive in the 4th quarter valued at about $136,794,000. Finally, Pacer Advisors Inc. raised its stake in Fortive by 4,854.2% during the first quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company's stock worth $106,208,000 after acquiring an additional 1,422,030 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of Fortive stock traded up $0.55 on Thursday, hitting $47.58. The company had a trading volume of 2,738,293 shares, compared to its average volume of 3,360,508. The company has a market cap of $16.10 billion, a PE ratio of 21.43, a PEG ratio of 3.03 and a beta of 1.10. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.98 and a quick ratio of 0.82. The business has a 50-day simple moving average of $50.59 and a 200-day simple moving average of $64.46.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, July 30th. The technology company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.02). The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The company's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. Fortive has set its FY 2025 guidance at 2.500-2.600 EPS. Research analysts expect that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive announced that its board has authorized a share buyback program on Tuesday, May 27th that permits the company to buyback 15,630,000 shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Fortive Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive's dividend payout ratio (DPR) is 14.41%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FTV. Cowen lowered shares of Fortive from a "buy" rating to a "hold" rating in a research note on Tuesday, July 15th. Mizuho dropped their price objective on shares of Fortive from $85.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 16th. Wells Fargo & Company dropped their price objective on shares of Fortive from $72.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 1st. Barclays set a $54.00 price objective on shares of Fortive and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Finally, Robert W. Baird dropped their price objective on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $62.79.

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.