Fortive Corporation (NYSE:FTV) Plans $0.06 Quarterly Dividend

Fortive Corporation (NYSE:FTV) announced a quarterly dividend on Tuesday, June 9th. Stockholders of record on Monday, June 22nd will be given a dividend of 0.06 per share by the technology company on Monday, July 6th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 22nd.

Fortive has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Fortive has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Fortive to earn $3.18 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 7.5%.

Fortive Stock Up 2.6%

Shares of Fortive stock opened at $62.78 on Wednesday. Fortive has a 1 year low of $46.34 and a 1 year high of $73.41. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 37.59 and a beta of 1.06. The company has a 50-day moving average of $59.52 and a 200 day moving average of $56.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.57.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, April 30th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. Fortive had a net margin of 12.84% and a return on equity of 12.66%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Fortive has set its FY 2026 guidance at 2.900-3.000 EPS. As a group, sell-side analysts anticipate that Fortive will post 2.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FTV has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on Fortive from $58.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Zacks Research cut shares of Fortive from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Morgan Stanley raised their price objective on shares of Fortive from $58.00 to $59.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. Truist Financial reaffirmed a “hold” rating and issued a $61.00 target price (up from $56.00) on shares of Fortive in a report on Monday, May 4th. Finally, Citigroup increased their price target on shares of Fortive from $64.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.62.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.