Fortive Co. (FTV) to Issue Quarterly Dividend of $0.08 on December 27th

Fortive Co. (NYSE:FTV) announced a quarterly dividend on Wednesday, November 6th,RTT News reports. Shareholders 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 yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th.

Fortive has raised its dividend payment by an average of 1.2% annually over the last three years. Fortive has a dividend payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Fortive to earn $4.15 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 Price Performance

Shares of Fortive stock opened at $78.94 on Wednesday. The firm has a fifty day simple moving average of $76.06 and a 200-day simple moving average of $74.17. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive has a 1-year low of $66.15 and a 1-year high of $87.10. The stock has a market capitalization of $27.39 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.19 and a beta of 1.13.

Fortive (NYSE:FTV) last announced 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. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Fortive’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Fortive will post 3.85 earnings per share for the current year.

Analysts Set New Price Targets

FTV has been the topic of a number of research reports. Royal Bank of Canada dropped their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Truist Financial lowered their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Insider Buying and Selling

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. This represents a 17.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,895 shares of company stock worth $14,261,051 in the last 90 days. 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.