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 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 dividend yield of 0.43%.

Fortive has raised its dividend by an average of 1.2% annually over the last three years. Fortive has a payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE FTV traded up $2.90 during mid-day 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 firm has a market capitalization of $25.77 billion, a PE ratio of 28.44, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The stock has a fifty day moving average of $75.17 and a two-hundred day moving average of $74.27. Fortive has a 52 week low of $64.69 and a 52 week 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 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. As a group, sell-side analysts anticipate that Fortive will post 3.85 EPS for the current fiscal year.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction 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 sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,895 shares of company stock worth $13,878,151. 1.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTV. Wells Fargo & Company dropped their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Thursday, September 5th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Barclays decreased their price objective on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.