Fintel reports that on October 10, 2023, UBS maintained coverage of Fortive (NYSE:FTV) with a Buy recommendation.
Analyst Price Forecast Suggests 10.22% Upside
As of October 4, 2023, the average one-year price target for Fortive is 83.16. The forecasts range from a low of 67.67 to a high of $96.60. The average price target represents an increase of 10.22% from its latest reported closing price of 75.45.
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The projected annual revenue for Fortive is 6,077MM, an increase of 1.74%. The projected annual non-GAAP EPS is 3.38.
Fortive Declares $0.07 Dividend
On August 17, 2023 the company declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Shareholders of record as of September 1, 2023 received the payment on September 29, 2023. Previously, the company paid $0.07 per share.
At the current share price of $75.45 / 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 0.04 (n=236).
The current dividend yield is 0.75 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 1452 funds or institutions reporting positions in Fortive. This is a decrease of 15 owner(s) or 1.02% in the last quarter. Average portfolio weight of all funds dedicated to FTV is 0.25%, an increase of 0.38%. Total shares owned by institutions increased in the last three months by 0.53% to 387,767K shares. 
The put/call ratio of FTV is 0.33, indicating a bullish outlook.
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 increased its portfolio allocation in FTV by 12.05% over the last quarter.
PRWCX - T. Rowe Price Capital Appreciation Fund holds 15,672K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 14,370K shares, representing an increase of 8.31%. The firm increased its portfolio allocation in FTV by 12.29% 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 increased its portfolio allocation in FTV by 769.21% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,015K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 10,924K shares, representing an increase of 0.83%. The firm increased its portfolio allocation in FTV by 2.04% 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.
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