Fortive Co. (FTV) To Go Ex-Dividend on February 28th

Fortive Co. (NYSE:FTV) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.08 per share by the technology company on Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th.

Fortive has raised its dividend by an average of 4.6% per year over the last three years. Fortive has a dividend payout ratio of 7.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Fortive to earn $4.10 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 7.8%.

Fortive Stock Up 0.3 %

FTV stock opened at $80.66 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $77.36 and a two-hundred day moving average price of $75.16. The company has a market cap of $27.98 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 2.15 and a beta of 1.14. Fortive has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Fortive will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FTV shares. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Finally, Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.45.

Insider Activity

In related news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The stock was 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

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.