Fortive Corporation (FTV) Declares $0.07 Quarterly Dividend
Fortive Corporation (NYSE:FTV) announced a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Investors of record on Friday, November 24th will be given a dividend of 0.07 per share by the technology company on Friday, December 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 22nd.
Fortive Corporation has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Fortive Corporation to earn $3.20 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 8.8%.
Fortive Corporation (NYSE FTV) traded up $0.78 during trading hours on Friday, hitting $73.64. 1,009,840 shares of the company were exchanged, compared to its average volume of 1,208,914. The company has a market capitalization of $25.48 billion, a P/E ratio of 26.56 and a beta of 0.37.
Fortive Corporation (NYSE:FTV) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. Fortive Corporation’s revenue was up 7.4% on a year-over-year basis. equities research analysts anticipate that Fortive Corporation will post 2.85 earnings per share for the current year.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.
FTV has been the subject of a number of analyst reports. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $81.00 target price on shares of Fortive Corporation in a research note on Friday, October 27th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $70.00 target price on shares of Fortive Corporation in a research note on Wednesday, October 11th. Citigroup Inc. raised their target price on shares of Fortive Corporation from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $72.00 target price (up previously from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.10.
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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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