Fortive Corp (NYSE:FTV) announced a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Stockholders of record on Friday, November 30th will be given a dividend of 0.07 per share by the technology company on Friday, December 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Thursday, November 29th.
Fortive has a payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Fortive to earn $3.70 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 7.6%.
Shares of NYSE:FTV opened at $75.22 on Friday. Fortive has a 12 month low of $69.03 and a 12 month high of $88.34. The company has a market cap of $25.42 billion, a P/E ratio of 26.03, a PEG ratio of 2.11 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54.
FTV has been the topic of several recent analyst reports. SunTrust Banks dropped their target price on Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, October 29th. UBS Group boosted their target price on Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Argus boosted their target price on Fortive from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a report on Monday, October 1st. Finally, Gordon Haskett initiated coverage on Fortive in a report on Friday, October 12th. They set a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $87.18.
In other Fortive news, insider James A. Lico sold 123,298 shares of Fortive stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total value of $9,297,902.18. Following the transaction, the insider now owns 357,460 shares in the company, valued at $26,956,058.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider William W. Pringle sold 440 shares of Fortive stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $79.38, for a total transaction of $34,927.20. Following the completion of the transaction, the insider now owns 20,626 shares in the company, valued at approximately $1,637,291.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,009 shares of company stock worth $10,031,955. 12.10% of the stock is currently owned by company insiders.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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