Fortive Corp (NYSE:FTV) announced a quarterly dividend on Wednesday, January 24th, Wall Street Journal reports. Stockholders of record on Friday, February 23rd will be given a dividend of 0.07 per share by the technology company on Thursday, March 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Thursday, February 22nd.
Fortive has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fortive to earn $3.69 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 Fortive (FTV) opened at $75.85 on Wednesday. The company has a market capitalization of $26,311.07, a P/E ratio of 25.63, a PEG ratio of 2.28 and a beta of 0.51. Fortive has a 12-month low of $56.73 and a 12-month high of $76.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.83 and a quick ratio of 1.47.
A number of analysts have recently commented on FTV shares. Stifel Nicolaus boosted their price objective on Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Citigroup boosted their price objective on Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. SunTrust Banks restated a “buy” rating and issued a $81.00 price objective on shares of Fortive in a research report on Friday, October 27th. BMO Capital Markets assumed coverage on Fortive in a research report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 price target for the company. Finally, ValuEngine cut Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $77.50.
Fortive Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.