Fortive Corporation (NYSE:FTV) Announces $0.07 Quarterly Dividend
Fortive Corporation (NYSE:FTV) announced a quarterly dividend on Friday, August 4th, Wall Street Journal reports. Shareholders of record on Friday, August 25th will be paid a dividend of 0.07 per share by the technology company on Friday, September 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Wednesday, August 23rd.
Fortive Corporation has a dividend payout ratio of 10.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fortive Corporation to earn $3.03 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 9.2%.
Shares of Fortive Corporation (FTV) opened at 67.17 on Friday. The firm has a market capitalization of $23.31 billion, a PE ratio of 26.46 and a beta of 0.23. Fortive Corporation has a one year low of $46.81 and a one year high of $67.20. The firm’s 50 day moving average is $63.82 and its 200-day moving average is $60.68.
Fortive Corporation (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
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In other Fortive Corporation news, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the completion of the transaction, the vice president now directly owns 5,020 shares of the company’s stock, valued at $312,796.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Emily A. Weaver sold 3,749 shares of Fortive Corporation stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total value of $233,450.23. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on FTV shares. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Monday, July 24th. Barclays PLC set a $66.00 price target on shares of Fortive Corporation and gave the stock a “buy” rating in a research note on Sunday, April 30th. Morgan Stanley downgraded shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $61.00 to $65.00 in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fortive Corporation has a consensus rating of “Hold” and a consensus target price of $61.82.
Fortive Corporation Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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