Fortive Corp (NYSE:FTV) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Friday, November 30th will be paid a dividend of 0.07 per share by the technology company on Friday, December 28th. This represents a $0.28 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, November 29th.
Fortive has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fortive to earn $3.70 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 7.6%.
FTV traded down $1.67 during trading hours on Friday, hitting $75.22. 1,468,388 shares of the company’s stock were exchanged, compared to its average volume of 3,091,809. Fortive has a 1-year low of $69.03 and a 1-year high of $88.34. The stock has a market capitalization of $25.34 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.10 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Fortive had a return on equity of 24.91% and a net margin of 15.72%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.86 billion. As a group, research analysts predict that Fortive will post 3 earnings per share for the current fiscal year.
In other Fortive news, insider James A. Lico sold 123,298 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total transaction of $9,297,902.18. Following the completion of the transaction, the insider now owns 357,460 shares in the company, valued at approximately $26,956,058.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William W. Pringle sold 440 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total transaction of $34,927.20. Following the transaction, the insider now owns 20,626 shares of the company’s stock, valued at approximately $1,637,291.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,009 shares of company stock valued at $10,031,955. Company insiders own 12.10% of the company’s stock.
Several research analysts recently commented on FTV shares. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Monday, October 1st. Credit Suisse Group assumed coverage on shares of Fortive in a research report on Friday, October 12th. They issued a “neutral” rating and a $89.00 price objective on the stock. Morgan Stanley set a $90.00 price objective on shares of Fortive and gave the company an “equal weight” rating in a research report on Tuesday, October 2nd. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th. Finally, UBS Group raised their price target on shares of Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $87.18.
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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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