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

Fortive Co. (NYSE:FTV - Get Free Report) announced a quarterly dividend on Thursday, April 3rd, RTT News reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.08 per share by the technology company on Friday, June 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, May 30th.

Fortive has increased its dividend payment by an average of 4.6% annually over the last three years. Fortive has a payout ratio of 7.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Fortive to earn $4.38 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 7.3%.

Fortive Stock Down 3.1 %

Shares of NYSE:FTV traded down $2.03 during trading on Tuesday, hitting $62.62. The company's stock had a trading volume of 5,189,093 shares, compared to its average volume of 2,304,774. The company has a market capitalization of $21.31 billion, a PE ratio of 26.54, a PEG ratio of 2.68 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The stock's 50-day moving average price is $76.37 and its two-hundred day moving average price is $76.58. Fortive has a fifty-two week low of $61.73 and a fifty-two week high of $84.69.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, sell-side analysts expect that Fortive will post 4.05 EPS for the current year.

Remove Ads

Analyst Ratings Changes

FTV has been the topic of several research reports. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada boosted their price objective on Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research report on Monday, February 10th. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on shares of Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Truist Financial cut their price target on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $84.82.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 3,002 shares of Fortive stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the sale, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,385 shares of company stock valued at $19,508,529. Company insiders own 1.01% of the company's stock.

Institutional Trading of Fortive

An institutional investor recently raised its position in Fortive stock. Brighton Jones LLC raised its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 97.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,706 shares of the technology company's stock after acquiring an additional 2,811 shares during the quarter. Brighton Jones LLC's holdings in Fortive were worth $428,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

About Fortive

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.