Several financial firms have recently updated their ratings and price targets for shares of Fortive Corporation (NYSE: FTV). These adjustments reflect ongoing analysis of the company’s performance in the industrial technology sector.
In addition to the rating changes, Fortive announced a quarterly dividend of $0.06 per share, set to be paid on December 26, 2023. Shareholders on record as of November 28, 2023 will be eligible for this dividend, which translates to an annualized rate of $0.24. This represents a yield of 0.4%, with a current dividend payout ratio of 13.71%.
In related news, Stacey A. Walker, Senior Vice President of Fortive, sold 2,192 shares of the company on October 31, 2023. The shares were sold at an average price of $50.35, amounting to a total transaction of approximately $110,367.20. Following this transaction, Walker holds 59,488 shares, valued at around $2,995,220.80. This sale represents a 3.55% decrease in her holdings. The transaction has been officially reported to the Securities and Exchange Commission (SEC), and further details can be accessed through the SEC’s website. Notably, company insiders currently own 0.92% of Fortive’s stock.
Fortive Corporation, headquartered in Everett, Washington, was established in 2016 following a spin-off from Danaher Corporation. Since its inception, the company has concentrated on developing a diverse portfolio of professional instrumentation and industrial technology businesses. In 2020, Fortive executed a further portfolio separation by spinning off Vontier, allowing the company to focus on high-margin sectors including instrumentation, software, and related services.
Fortive’s operations encompass a range of areas, including professional test and measurement, sensing and monitoring, software-enabled solutions, and lifecycle services designed to support both industrial and commercial clients. The recent updates in ratings, dividend announcements, and insider trading activity underscore Fortive’s ongoing strategic developments in the market.
