Fortive Corporation (NYSE:FTV) Declares Quarterly Dividend of $0.07

Fortive Corporation (NYSE:FTV) announced a quarterly dividend on Wednesday, November 4th. Shareholders 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 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, November 27th.

Fortive has increased 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. Equities 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 Stock Performance

Shares of NYSE:FTV opened at $68.42 on Thursday. The company 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. The firm’s 50 day simple moving average is $58.21 and its 200 day simple moving average is $58.83. Fortive has a fifty-two week low of $49.99 and a fifty-two week high of $68.94. 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 (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Fortive had a return on equity of 15.79% and a net margin of 14.83%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. As a group, sell-side analysts forecast that Fortive will post 3.12 earnings per share for the current year.

Insider Buying and Selling at Fortive

In other news, CAO Christopher Mulhall sold 17,962 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $65.56, for a total transaction of $1,177,588.72. Following the completion of the sale, the chief accounting officer owned 44,598 shares of the company’s stock, valued at approximately $2,923,844.88. This represents a 28.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 48,442 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $64.60, for a total transaction of $3,129,353.20. Following the completion of the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at approximately $5,111,022.80. The trade was a 37.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 83,159 shares of company stock worth $5,371,093. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Fortive

A number of large investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new stake in Fortive during the first quarter worth approximately $11,854,000. Sterling Investment Management LLC acquired a new stake in Fortive during the 3rd quarter worth approximately $1,149,000. First Nebraska Trust Co purchased a new position in shares of Fortive in the 1st quarter valued at $2,453,000. Deutsche Bank AG purchased a new stake in shares of Fortive in the second quarter worth about $99,326,000. Finally, Handelsbanken Fonder AB acquired a new stake in Fortive in the second quarter valued at approximately $7,212,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Company Profile

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.