Fortive Corporation (NYSE:FTV) Shares Set to Pay Quarterly Dividend of $0.07

Key Points

• Fortive declared a quarterly dividend of $0.07 per share, payable December 28 to shareholders of record November 27. The annualized dividend is $0.28, a 0.4% yield.
• The dividend appears well covered: Fortive’s payout ratio is 6.6%, and analysts expect next-year earnings of $3.30 per share, implying an estimated payout ratio of 8.5%.
• Fortive beat quarterly estimates, reporting EPS of $0.77 versus $0.70 expected and revenue of $1.11 billion, up 7.8% year over year. Analysts’ consensus rating was “Reduce,” with an average price target of $64.36.

Fortive Corporation (NYSE:FTV - Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Investors of record on Friday, November 27th will be given a dividend of $0.07 per share by the technology company on Monday, December 28th. This represents a $0.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, November 27th.

Fortive has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Fortive has a dividend payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fortive to earn $3.30 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 8.5%.

Fortive Trading Up 2.4%

FTV stock opened at $68.42 on Thursday. The business has a fifty day moving average price of $58.21 and a 200 day moving average price of $58.83. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.98. Fortive has a fifty-two week low of $49.99 and a fifty-two week high of $68.94. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 2.68 and a beta of 1.03.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Fortive had a return on equity of 15.79% and a net margin of 14.83%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Analysts expect that Fortive will post 3.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FTV has been the topic of several research reports. Royal Bank Of Canada upped their price target on shares of Fortive from $59.00 to $68.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 29th. Truist Financial restated a "hold" rating and issued a $65.00 price objective (up from $63.00) on shares of Fortive in a research report on Thursday, October 29th. Citigroup raised their price objective on shares of Fortive from $65.00 to $71.00 and gave the company a "neutral" rating in a research report on Thursday, October 29th. Weiss Ratings raised shares of Fortive from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 29th. Finally, Robert W. Baird set a $75.00 target price on shares of Fortive in a research report on Thursday, October 29th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Fortive presently has a consensus rating of "Reduce" and an average price target of $64.36.

About Fortive

Fortive Corporation NYSE: FTV is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company's portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.