Fortive Corp (FTV) Announces Quarterly Dividend of $0.07

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.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Fortive had a return on equity of 30.54% and a net margin of 15.69%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. sell-side analysts anticipate that Fortive will post 3.42 EPS for the current fiscal year.

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.

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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.

Dividend History for Fortive (NYSE:FTV)

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