Oddo BHF Asset Management Sas Makes New $854,000 Investment in Fortive Co. (NYSE:FTV)

Oddo BHF Asset Management Sas bought a new position in Fortive Co. (NYSE:FTV) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,823 shares of the technology company’s stock, valued at approximately $854,000.

Several other hedge funds have also made changes to their positions in FTV. Tidal Investments LLC lifted its stake in Fortive by 5.3% in the third quarter. Tidal Investments LLC now owns 16,513 shares of the technology company’s stock worth $1,303,000 after acquiring an additional 829 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Fortive in the 3rd quarter valued at about $456,000. World Investment Advisors LLC purchased a new stake in shares of Fortive in the 3rd quarter worth approximately $12,031,000. Sanctuary Advisors LLC boosted its stake in shares of Fortive by 33.4% during the third quarter. Sanctuary Advisors LLC now owns 17,303 shares of the technology company’s stock valued at $1,357,000 after purchasing an additional 4,333 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in Fortive by 6.3% during the third quarter. TD Private Client Wealth LLC now owns 24,437 shares of the technology company’s stock valued at $1,929,000 after buying an additional 1,438 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTV has been the subject of a number of analyst reports. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Wells Fargo & Company dropped their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Thursday, September 5th. Finally, Barclays reduced their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.73.

Insider Buying and Selling

In other news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction on 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 sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Fortive Trading Up 0.0 %

NYSE FTV opened at $76.86 on Friday. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a fifty day simple moving average of $76.39 and a two-hundred day simple moving average of $74.37. 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 stock has a market cap of $26.67 billion, a P/E ratio of 30.62, a P/E/G ratio of 2.15 and a beta of 1.14.

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

Fortive Dividend Announcement

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

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.