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

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%.

Fortive has increased its dividend by an average of 4.6% annually over the last three years. Fortive has a payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings. Research 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 0.8 %

NYSE:FTV traded up $0.60 on Tuesday, hitting $80.37. The stock had a trading volume of 1,894,488 shares, compared to its average volume of 2,213,385. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10. The firm’s fifty day simple moving average is $77.25 and its two-hundred day simple moving average is $75.13. The stock has a market cap of $27.88 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping 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%. Fortive’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. Analysts predict that Fortive will post 3.84 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 5,000 shares of Fortive 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 transaction, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction 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. The trade was a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on FTV. Royal Bank of Canada lowered their price objective 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. Barclays dropped their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Truist Financial increased their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group began coverage on shares of Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.45.

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.