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

Fortive Co. (NYSE:FTV) declared a quarterly dividend on Tuesday, January 28th, RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.08 per share by the technology company on Friday, March 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th.

Fortive has raised its dividend by an average of 4.6% annually over the last three years. Fortive has a payout ratio of 7.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.6 %

Shares of FTV opened at $79.62 on Wednesday. Fortive has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $78.34 and its 200-day moving average price is $76.35. The firm has a market capitalization of $27.62 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate 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 period last year, the firm earned $0.98 earnings per share. Sell-side analysts anticipate that Fortive will post 4.05 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on FTV shares. Royal Bank of Canada raised 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. JPMorgan Chase & Co. dropped their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Barclays decreased their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Finally, Wells Fargo & Company upped their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Seven investment 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, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

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.