Fortive Co. (FTV) To Go Ex-Dividend on November 29th

Fortive Co. (NYSE:FTV) declared a quarterly dividend on Wednesday, November 6th,RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.08 per share by the technology company on Friday, December 27th. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, November 29th.

Fortive has raised its dividend payment 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 $4.17 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 Price Performance

Shares of NYSE:FTV opened at $74.01 on Friday. Fortive has a twelve month low of $64.88 and a twelve month high of $87.10. The stock’s 50 day moving average is $75.20 and its 200-day moving average is $74.27. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 1.95 and a beta of 1.13.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. Sell-side analysts forecast that Fortive will post 3.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on FTV. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Wells Fargo & Company reduced their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.20.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,895 shares of company stock valued at $13,878,151 over the last ninety days. 1.01% of the stock is currently owned by insiders.

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.