BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $72.55 Million Stake in Fortive Co. (NYSE:FTV)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its position in Fortive Co. (NYSE:FTV) by 25.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 843,358 shares of the technology company’s stock after selling 284,420 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.24% of Fortive worth $72,545,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after buying an additional 369,351 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in Fortive by 4.5% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after purchasing an additional 35,688 shares during the period. BNP Paribas Financial Markets boosted its position in Fortive by 104.3% during the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock worth $31,748,000 after purchasing an additional 188,415 shares during the period. California State Teachers Retirement System boosted 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 purchasing an additional 13,251 shares during the period. Finally, Capital World Investors boosted its position in Fortive by 0.6% during the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock worth $430,568,000 after purchasing an additional 33,990 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of recent analyst reports. Barclays decreased their target price on Fortive from $97.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Truist Financial decreased their target price on Fortive from $96.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company reduced their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup reduced their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Fortive Stock Performance

FTV stock traded up $0.56 during midday trading on Thursday, hitting $78.44. The stock had a trading volume of 115,306 shares, compared to its average volume of 1,625,931. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 30.78, a P/E/G ratio of 2.31 and a beta of 1.12. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The stock has a 50-day simple moving average of $74.51 and a 200 day simple moving average of $78.30. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. As a group, equities research analysts anticipate that Fortive Co. will post 3.81 earnings per share for the current year.

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.