Checking in on Fortive Corporation (FTV) after recent insiders movement


Fortive Corporation’s recent filing unveils that its SVP – Human Resources Walker Stacey A. unloaded Company’s shares for reported $0.22 million on Feb 27. In the deal valued at $67.75 per share,3,249 shares were sold. As a result of this transaction, Walker Stacey A. now holds 32,721 shares worth roughly $ 2.09 million.

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Then, Walker Stacey A. sold 1,336 shares, generating $88,697 in total proceeds. Upon selling the shares at $66.39, the SVP – Human Resources now owns 37,946 shares.

Before that, Walker Stacey A. sold 2,063 shares. Fortive Corporation shares valued at $141,666 were divested by the SVP – Human Resources at a price of $68.67 per share. As a result of the transaction, Walker Stacey A. now holds 40,150 shares, worth roughly $2.57 million.

Morgan Stanley upgraded its Fortive Corporation [FTV] rating to an Overweight from a an Equal-weight in a research note published on Monday, October 12, 2022; the price target was increased to $73 from $68. PT values the company’s stock at a premium of 12.38 to its Monday closing price. A number of analysts have revised their coverage, including Argus’s analysts, who increased its forecast for the stock in mid March from “a Hold” to “a Buy”. Barclays also remained covering FTV and has increased its forecast on March 14, 2022 with a “an Overweight” recommendation from previously “an Equal weight” rating. Vertical Research revised its rating on January 03, 2022. It rated FTV as “a Hold” which previously was an “a Buy”.

Price Performance Review of FTV

On Monday, Fortive Corporation [NYSE:FTV] saw its stock fall -0.71% to $63.96. On the same session, the stock had its day’s lowest price of $63.24, but rose to a high of $64.58. Over the last five days, the stock has lost -5.79%. Fortive Corporation shares have fallen nearly -0.45% since the year began. Nevertheless, the stocks have risen 13.24% over the past one year. While a 52-week high of $69.78 was reached on 02/09/23, a 52-week low of $52.47 was recorded on 01/20/23. SMA at 50 days reached $66.94, while 200 days put it at $63.47. A total of 1.78 million shares were traded, compared to the trading of 1.93 million shares in the previous session.

Levels Of Support And Resistance For FTV Stock

The 24-hour chart illustrates a support level at 63.27, which if violated will result in even more drops to 62.59. On the upside, there is a resistance level at 64.61. A further resistance level may holdings at 65.27. The Relative Strength Index (RSI) on the 14-day chart is 33.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.76%. Stochastics %K at 11.22% indicates the stock is a buying.

How much short interest is there in Fortive Corporation?

A steep rise in short interest was recorded in Fortive Corporation stocks on Jan 30, 2023, dropping by -0.95 million shares to a total of 4.13 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 5.08 million shares. There was a decline of -23.0%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.31% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.53.

Fortive Corporation [FTV] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 38,006,472 shares, or roughly 10.77% of the outstanding FTV shares. In other words, the investor’s shares have risen by 153,279 from its previous 13-F filing of 37853193.0. Additionally, T. Rowe Price Investment Manageme decreased -18.86% of its stake after which the total value it holdings stand at $2,251,152,062, while Wellington Management Co. LLP reduced -2.27% of its stake to hold $1.21 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 719,104 shares of Fortive Corporation, while RBC Global Asset Management bought -406,907 shares. At present, SSgA Funds Management, Inc. is holding 13,402,416 shares valued at $893.41 million. Fidelity Management & Research Co owned 12,570,411 shares of the company at the time of its most recent 13F filing, worth $837.94 million.

According to FactSet, Fortive Corporation’s share price will average $75.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.42 percent from its previous closing price of $64.42. Analysts expect Fortive Corporation stock to reach the higher price of $91.00, while the lowest price estimate is $63.00. However, 22 analysts have rated FTV stock as an Overweight in their predictions for 2023. The most recent change occurred on December 17, 2021 when Mizuho began covering the stock and recommended ‘”a Neutral”‘ rating along with a $82 price target.


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