BNP Paribas Financial Markets Increases Position in Fortive Corporation $FTV

BNP Paribas Financial Markets raised its stake in shares of Fortive Corporation (NYSE:FTV) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 550,918 shares of the technology company’s stock after acquiring an additional 10,104 shares during the quarter. BNP Paribas Financial Markets’ holdings in Fortive were worth $30,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares during the period. Dorato Capital Management acquired a new stake in Fortive in the fourth quarter valued at about $45,000. Hantz Financial Services Inc. lifted its position in Fortive by 149.3% in the fourth quarter. Hantz Financial Services Inc. now owns 845 shares of the technology company’s stock valued at $47,000 after purchasing an additional 506 shares during the period. Dunhill Financial LLC boosted its stake in shares of Fortive by 8,300.0% in the third quarter. Dunhill Financial LLC now owns 1,008 shares of the technology company’s stock valued at $49,000 after buying an additional 996 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Fortive during the 4th quarter worth $49,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of research reports. Truist Financial restated a “hold” rating and issued a $61.00 price target (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Citigroup lifted their price target on shares of Fortive from $64.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Zacks Research downgraded Fortive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Fortive in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and a consensus target price of $61.62.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 47,557 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.81, for a total transaction of $2,891,941.17. Following the transaction, the senior vice president directly owned 87,780 shares of the company’s stock, valued at approximately $5,337,901.80. The trade was a 35.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Fortive Stock Performance

Shares of NYSE:FTV opened at $61.50 on Friday. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $73.77. The business has a 50-day moving average of $59.08 and a two-hundred day moving average of $56.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57. The firm has a market capitalization of $18.75 billion, a PE ratio of 36.83, a P/E/G ratio of 3.25 and a beta of 1.06.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Fortive had a net margin of 12.84% and a return on equity of 12.66%. Fortive’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, research analysts forecast that Fortive Corporation will post 2.97 earnings per share for the current year.

Fortive declared that its Board of Directors has approved a share repurchase plan on Monday, May 4th that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Fortive Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.