Fortive Co. (NYSE:FTV) Shares Sold by BNP Paribas Arbitrage SNC

BNP Paribas Arbitrage SNC reduced its position in shares of Fortive Co. (NYSE:FTV) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,154 shares of the technology company’s stock after selling 996 shares during the period. BNP Paribas Arbitrage SNC’s holdings in Fortive were worth $6,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC increased its position in Fortive by 1,590.9% in the second quarter. Capital Advisors Ltd. LLC now owns 372 shares of the technology company’s stock worth $28,000 after buying an additional 350 shares during the period. Your Advocates Ltd. LLP increased its holdings in shares of Fortive by 683.3% in the 2nd quarter. Your Advocates Ltd. LLP now owns 470 shares of the technology company’s stock worth $35,000 after acquiring an additional 410 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Fortive by 31.4% in the 2nd quarter. Lindbrook Capital LLC now owns 627 shares of the technology company’s stock worth $47,000 after acquiring an additional 150 shares during the period. Clear Street Markets LLC increased its stake in shares of Fortive by 93.0% in the first quarter. Clear Street Markets LLC now owns 691 shares of the technology company’s stock valued at $47,000 after purchasing an additional 333 shares during the period. Finally, Global Retirement Partners LLC increased its stake in shares of Fortive by 81.2% in the first quarter. Global Retirement Partners LLC now owns 750 shares of the technology company’s stock valued at $48,000 after purchasing an additional 336 shares during the period. 95.95% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Down 0.6 %

Shares of FTV opened at $67.68 on Tuesday. The stock has a fifty day moving average price of $71.11 and a two-hundred day moving average price of $72.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.79 and a current ratio of 1.02. Fortive Co. has a 52-week low of $62.70 and a 52-week high of $79.90. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 29.05 and a beta of 1.15.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Fortive had a net margin of 13.77% and a return on equity of 11.96%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. Analysts predict that Fortive Co. will post 3.39 EPS for the current fiscal year.

Fortive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a boost from Fortive’s previous quarterly dividend of $0.07. Fortive’s payout ratio is 13.73%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FTV. Argus raised their price target on Fortive from $80.00 to $85.00 in a report on Thursday, July 27th. TD Cowen raised their target price on shares of Fortive from $70.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, August 23rd. Wells Fargo & Company lowered their price objective on shares of Fortive from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. UBS Group boosted their price objective on Fortive from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, Mizuho lowered their target price on Fortive from $70.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and a consensus price target of $78.46.

Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.