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

Fortive Co. (NYSE:FTV) declared a quarterly dividend on Wednesday, November 6th, RTT News reports. Stockholders 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 dividend yield of 0.43%.

Fortive has increased its dividend by an average of 1.2% per year over the last three years. Fortive has a payout ratio of 7.7% meaning 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 Trading Up 4.1 %

Shares of FTV opened at $74.29 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. Fortive has a 12-month low of $64.69 and a 12-month high of $87.10. The firm has a market capitalization of $25.77 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. The stock’s fifty day simple moving average is $75.20 and its 200-day simple moving average is $74.27.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. 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 prior year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts predict 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 the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction that occurred 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,895 shares of company stock valued at $13,878,151. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FTV. Truist Financial cut their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada dropped their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley started coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.