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

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

Fortive has increased its dividend by an average of 1.2% annually over the last three years. Fortive has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 4.1 %

Shares of Fortive stock traded up $2.90 during trading on Wednesday, reaching $74.29. The company’s stock had a trading volume of 4,272,937 shares, compared to its average volume of 1,934,155. 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 company has a market cap of $25.77 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.96 and a beta of 1.13. Fortive has a 1-year low of $64.69 and a 1-year high of $87.10. The company has a 50-day simple moving average of $75.17 and a two-hundred day simple moving average of $74.27.

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

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated 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 sale, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,895 shares of company stock worth $13,878,151 in the last 90 days. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Barclays reduced their target price on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Truist Financial reduced their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Finally, Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. Four 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.20.

About Fortive

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.