Fortive Corporation’s filing revealed that its President & CEO of AHS Murphy Patrick K unloaded Company’s shares for reported $1.67 million on Jul 28. In the deal valued at $76.50 per share,21,793 shares were sold. As a result of this transaction, Murphy Patrick K now holds 60,716 shares worth roughly $ 4.7 million.
Then, McLaughlin Charles E sold 16,911 shares, generating $1,296,397 in total proceeds. Upon selling the shares at $76.66, the SVP – Chief Financial Officer now owns 101,319 shares.
Before that, Mulhall Christopher M. sold 4,700 shares. Fortive Corporation shares valued at $361,195 were divested by the VP – Chief Accounting Officer at a price of $76.85 per share. As a result of the transaction, Mulhall Christopher M. now holds 21,507 shares, worth roughly $1.66 million.
Seaport Research Partners initiated its Fortive Corporation [FTV] rating to a Buy in a research note published on Tuesday, August 07, 2023; the price target was $92. PT values the company’s stock at a premium of 15.87 to its Tuesday closing price.
Price Performance Review of FTV
On Tuesday, Fortive Corporation [NYSE:FTV] saw its stock fall -2.05% to $77.40. On the same session, the stock had its day’s lowest price of $77.38, but rose to a high of $79.06. Over the last five days, the stock has lost -0.14%. Fortive Corporation shares have risen nearly 20.47% since the year began. Nevertheless, the stocks have risen 22.33% over the past one year. While a 52-week high of $79.90 was reached on 08/10/23, a 52-week low of $57.43 was recorded on 04/26/23. SMA at 50 days reached $76.24, while 200 days put it at $68.92. A total of 1.48 million shares were traded, compared to the trading of 1.9 million shares in the previous session.
Levels Of Support And Resistance For FTV Stock
The 24-hour chart illustrates a support level at 76.83, which if violated will result in even more drops to 76.27. On the upside, there is a resistance level at 78.51. A further resistance level may holdings at 79.63. The Relative Strength Index (RSI) on the 14-day chart is 50.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.81, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.36%. Stochastics %K at 75.54% indicates the stock is a holding.
How much short interest is there in Fortive Corporation?
A steep rise in short interest was recorded in Fortive Corporation stocks on Aug 14, 2023, dropping by -0.9 million shares to a total of 4.48 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.38 million shares. There was a decline of -20.09%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.44% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.17.
Fortive Corporation [FTV] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 38,269,947 shares, or roughly 10.87% of the outstanding FTV shares. In other words, the investor’s shares have fallen by -45,640 from its previous 13-F filing of 38315587.0. Additionally, T. Rowe Price Investment Manageme increased 5.38% of its stake after which the total value it holdings stand at $2,859,445,617, while Wellington Management Co. LLP added 7.06% of its stake to hold $1.48 billion in the firm. Over the last quarter, BlackRock Fund Advisors sold -124,682 shares of Fortive Corporation, while SSgA Funds Management, Inc. sold 206,501 shares. At present, RBC Global Asset Management is holding 13,028,552 shares valued at $1.02 billion. Fidelity Management & Research Co owned 12,954,538 shares of the company at the time of its most recent 13F filing, worth $1.01 billion.
According to FactSet, Fortive Corporation’s share price will average $82.94 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.3 percent from its previous closing price of $79.02. Analysts expect Fortive Corporation stock to reach the higher price of $92.00, while the lowest price estimate is $70.00. However, 20 analysts have rated FTV stock as an Overweight in their predictions for 2023.