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

Fortive Co. (NYSE:FTV) declared a quarterly dividend on Friday, August 30th, RTT News reports. Investors of record on Tuesday, September 17th will be paid a dividend of 0.08 per share by the technology company on Friday, September 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%.

Fortive has raised its dividend by an average of 1.2% per year over the last three years. Fortive has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fortive to earn $4.15 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 7.7%.

Fortive Stock Up 0.9 %

NYSE:FTV opened at $74.40 on Friday. The company’s 50 day moving average is $72.32 and its two-hundred day moving average is $77.47. The company has a market cap of $26.19 billion, a PE ratio of 29.41, a P/E/G ratio of 2.06 and a beta of 1.12. Fortive has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. Analysts anticipate that Fortive will post 3.82 EPS for the current year.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of recent research reports. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Royal Bank of Canada lowered their price target on shares of Fortive from $83.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, July 25th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. Barclays reduced their price target on Fortive from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Finally, Truist Financial lowered their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.91.

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.