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

Fortive Co. (NYSE:FTV) declared a quarterly dividend on Tuesday, January 28th,RTT News reports. Investors of record on Friday, February 28th will be paid 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 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% meaning its dividend is sufficiently covered by earnings. 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 %

Shares of Fortive stock traded up $0.60 on Tuesday, reaching $80.37. The stock had a trading volume of 1,894,488 shares, compared to its average volume of 2,213,385. 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 stock has a market capitalization of $27.88 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.15 and a beta of 1.14. The company has a 50 day moving average price of $77.25 and a 200 day moving average price of $75.13. Fortive has a 1 year low of $66.15 and a 1 year high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Fortive will post 3.84 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Stacey A. Walker sold 171,808 shares of the 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 completion of the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays decreased their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Truist Financial raised their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group assumed coverage on Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. Finally, Royal Bank of Canada decreased their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.