Fortive Corporation $FTV Stock Position Raised by AG2R LA Mondiale Gestion D Actifs

AG2R LA Mondiale Gestion D Actifs lifted its position in Fortive Corporation (NYSE:FTV) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,705 shares of the technology company’s stock after acquiring an additional 1,025 shares during the quarter. AG2R LA Mondiale Gestion D Actifs’ holdings in Fortive were worth $871,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Dodge & Cox lifted its position in Fortive by 181.5% in the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after buying an additional 14,120,456 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after buying an additional 4,382,242 shares in the last quarter. Invesco Ltd. lifted its position in Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after buying an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. lifted its position in Fortive by 4.9% in the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after buying an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Fortive by 2.8% in the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after buying an additional 109,307 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE:FTV opened at $49.46 on Monday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The firm’s fifty day simple moving average is $48.63 and its 200 day simple moving average is $57.57. The company has a current ratio of 0.98, a quick ratio of 0.82 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $16.74 billion, a PE ratio of 22.28, a PEG ratio of 3.14 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The business had revenue of $1.07 billion for the quarter. On average, sell-side analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.06 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is presently 10.81%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho cut their target price on shares of Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Melius downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 target price for the company. in a research report on Tuesday, July 22nd. Melius Research upgraded shares of Fortive to a “hold” rating in a research report on Tuesday, July 22nd. Barclays set a $54.00 price target on shares of Fortive and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Finally, TD Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $50.00 in a research note on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Fortive presently has an average rating of “Hold” and a consensus target price of $61.14.

Fortive 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.