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

Fortive Co. (NYSE:FTV) declared a quarterly dividend on Friday, August 30th, RTT News reports. Investors of record on Friday, September 13th 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 yield of 0.44%. The ex-dividend date of this dividend is Friday, September 13th.

Fortive has raised its dividend by an average of 1.2% annually over the last three years. Fortive has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NYSE FTV opened at $72.11 on Wednesday. The stock has a 50 day moving average price of $72.23 and a 200 day moving average price of $76.72. Fortive has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The stock has a market capitalization of $25.26 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 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 during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts predict that Fortive will post 3.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FTV. Barclays raised their price objective on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Wells Fargo & Company cut their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Morgan Stanley began coverage on Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. Finally, TD Cowen raised Fortive from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $86.23.

Fortive Company Profile

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.