BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Stock Holdings in Fortive Co. (NYSE:FTV)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Fortive Co. (NYSE:FTV - Free Report) by 29.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,003,275 shares of the technology company's stock after purchasing an additional 230,928 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.29% of Fortive worth $79,189,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Fortive during the third quarter valued at approximately $25,000. Advisors Asset Management Inc. bought a new stake in Fortive in the first quarter worth $32,000. Ridgewood Investments LLC purchased a new stake in Fortive during the second quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive during the second quarter valued at about $30,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of Fortive in the 2nd quarter valued at about $31,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

Shares of Fortive stock opened at $75.75 on Thursday. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The firm has a market capitalization of $26.28 billion, a P/E ratio of 30.18, a P/E/G ratio of 2.05 and a beta of 1.13. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $75.69 and a two-hundred day simple moving average of $74.15.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive's revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. On average, equities analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive's payout ratio is currently 12.75%.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 17.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock valued at $14,261,051 in the last 90 days. Corporate insiders own 1.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Truist Financial decreased their price target on Fortive from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Raymond James upgraded shares of Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price objective on the stock in a research report on Thursday, September 5th. Royal Bank of Canada dropped their target price on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating for the company in a report on Thursday, October 31st. UBS Group assumed coverage on Fortive in a report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Fortive in a report on Friday, September 6th. They issued an "overweight" rating and a $89.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Fortive presently has a consensus rating of "Moderate Buy" and an average target price of $87.82.

Fortive Company Profile

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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