Fortive (FTV) Declares $0.07 Dividend
Fortive said on August 17, 2023 that its board of directors declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Previously, the company paid $0.07 per share.
Shares must be purchased before the ex-div date of August 31, 2023 to qualify for the dividend. Shareholders of record as of September 1, 2023 will receive the payment on September 29, 2023.
At the current share price of $76.08 / share, the stock's dividend yield is 0.37%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.40%, the lowest has been 0.32%, and the highest has been 0.67%. The standard deviation of yields is 0.05 (n=236).
The current dividend yield is 0.77 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 1467 funds or institutions reporting positions in Fortive. This is a decrease of 12 owner(s) or 0.81% in the last quarter. Average portfolio weight of all funds dedicated to FTV is 0.25%, an increase of 3.08%. Total shares owned by institutions increased in the last three months by 1.07% to 386,536K shares. 
The put/call ratio of FTV is 0.39, indicating a bullish outlook.
Analyst Price Forecast Suggests 7.35% Upside
As of August 2, 2023, the average one-year price target for Fortive is 81.67. The forecasts range from a low of 67.67 to a high of $94.50. The average price target represents an increase of 7.35% from its latest reported closing price of 76.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fortive is 6,077MM, an increase of 1.74%. The projected annual non-GAAP EPS is 3.38.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 36,496K shares representing 10.37% ownership of the company. In it's prior filing, the firm reported owning 34,633K shares, representing an increase of 5.10%. The firm increased its portfolio allocation in FTV by 9.81% over the last quarter.
Wellington Management Group Llp holds 18,911K shares representing 5.37% ownership of the company. In it's prior filing, the firm reported owning 17,664K shares, representing an increase of 6.59%. The firm decreased its portfolio allocation in FTV by 84.18% over the last quarter.
Royal Bank Of Canada holds 15,295K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 16,456K shares, representing a decrease of 7.59%. The firm decreased its portfolio allocation in FTV by 89.82% over the last quarter.
PRWCX - T. Rowe Price Capital Appreciation Fund holds 14,370K shares representing 4.08% ownership of the company. In it's prior filing, the firm reported owning 13,795K shares, representing an increase of 4.00%. The firm increased its portfolio allocation in FTV by 3.80% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,924K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 10,748K shares, representing an increase of 1.61%. The firm decreased its portfolio allocation in FTV by 0.42% over the last quarter.
Fortive Background Information
(This description is provided by the company.)
Fortive is a provider of essential technologies for connected workflow solutions across a range of attractive end-markets. The company holds leading positions in intelligent operating solutions, precision technologies, and advanced healthcare solutions. Fortive is headquartered in Everett, Washington and employs a team of more than 17,000 research and development, manufacturing, sales, distribution, service and administrative employees in more than 50 countries around the world. With a culture rooted in continuous improvement, the core of our company’s operating model is the Fortive Business System.
Additional reading:
- Fortive Reports Strong Second Quarter 2023 Results Raises Full Year 2023 Outlook
- Description of Compensation Arrangements for Non-Management Directors*
- Fortive Reports Strong First Quarter 2023 Results Raises Full Year 2023 Outlook
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.