Fortive Co. Declares Quarterly Dividend of $0.08 (NYSE:FTV)

Fortive Co. (NYSE:FTV) announced a quarterly dividend on Wednesday, November 6th, RTT News reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.08 per share by the technology company on Friday, December 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%.

Fortive has raised its dividend by an average of 1.2% per year over the last three years. Fortive has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fortive to earn $4.17 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.7%.

Fortive Stock Performance

Shares of NYSE FTV opened at $74.29 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The firm has a market cap of $25.77 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 1.95 and a beta of 1.13. The business’s 50-day simple moving average is $75.20 and its 200-day simple moving average is $74.27. Fortive has a 52 week low of $64.69 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, equities research analysts expect that Fortive will post 3.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,895 shares of company stock worth $13,878,151 in the last 90 days. 1.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of analyst reports. Barclays lowered their price objective on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Truist Financial lowered their target price on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average price target of $88.20.

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.