Fortive Co. (NYSE:FTV) announced a quarterly dividend on Thursday, April 8th, RTT News reports. Shareholders of record on Friday, May 28th will be given a dividend of 0.07 per share by the technology company on Friday, June 25th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%.
Shares of Fortive stock traded down $1.15 during trading hours on Thursday, reaching $70.25. 2,995,677 shares of the stock traded hands, compared to its average volume of 2,306,309. The company has a 50 day moving average price of $68.49 and a 200 day moving average price of $69.53. The firm has a market capitalization of $23.75 billion, a price-to-earnings ratio of 46.01, a P/E/G ratio of 5.13 and a beta of 1.14. Fortive has a one year low of $52.46 and a one year high of $82.12. The company has a quick ratio of 1.02, a current ratio of 1.24 and a debt-to-equity ratio of 0.61.
Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, February 3rd. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.08. Fortive had a return on equity of 16.30% and a net margin of 8.21%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.29 billion. Sell-side analysts anticipate that Fortive will post 2.97 earnings per share for the current year.
In other news, CFO Charles E. Mclaughlin sold 14,322 shares of the business’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $67.16, for a total transaction of $961,865.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christopher M. Mulhall sold 550 shares of the business’s stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $66.54, for a total value of $36,597.00. Following the transaction, the chief accounting officer now directly owns 12,915 shares in the company, valued at approximately $859,364.10. The disclosure for this sale can be found here. Insiders have sold a total of 84,071 shares of company stock worth $5,739,984 over the last ninety days. Insiders own 12.60% of the company’s stock.
FTV has been the topic of a number of analyst reports. Barclays lifted their price objective on Fortive from $72.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday. Morgan Stanley cut Fortive from an “overweight” rating to an “equal weight” rating and set a $75.00 price objective on the stock. in a research report on Wednesday, February 17th. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating and set a $70.00 price objective on the stock in a research report on Tuesday, February 23rd. Finally, Citigroup boosted their price target on Fortive from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 5th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Fortive currently has a consensus rating of “Buy” and an average price target of $77.29.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, facilities management, public safety, mining, and healthcare applications, as well as environmental, health, and safety applications.
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