Vertical Research downgrades Fortive Corp (FTV) stock to a Hold

In a filing, Fortive Corp revealed 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 $4.53 million.

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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 Corp 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 $1.61 million.

Vertical Research downgraded its Fortive Corp [FTV] rating to a Hold from a a Buy in a research note published on Monday.

Price Performance Review of FTV

On Monday, Fortive Corp [NYSE:FTV] saw its stock jump 0.97% to $74.69. Over the last five days, the stock has gained 1.33%. Fortive Corp shares have risen nearly 1.44% since the year began. Nevertheless, the stocks have risen 11.61% over the past one year. While a 52-week high of $79.90 was reached on 01/24/24, a 52-week low of $62.70 was recorded on 01/17/24. SMA at 50 days reached $71.00, while 200 days put it at $71.44. A total of 1.11 million shares were traded, compared to the trading of 1.16 million shares in the previous session.

Levels Of Support And Resistance For FTV Stock

The 24-hour chart illustrates a support level at 73.90, which if violated will result in even more drops to 73.11. On the upside, there is a resistance level at 75.11. A further resistance level may holdings at 75.53. The Relative Strength Index (RSI) on the 14-day chart is 65.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.59, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.09%. Stochastics %K at 71.88% indicates the stock is a holding.

How much short interest is there in Fortive Corp?

A steep rise in short interest was recorded in Fortive Corp stocks on Jan 11, 2024, dropping by -0.32 million shares to a total of 2.37 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 2.69 million shares. There was a decline of -13.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.76% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.37.

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

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 37,806,599 shares, or roughly 10.76% of the outstanding FTV shares. In other words, the investor’s shares have fallen by -463,348 from its previous 13-F filing of 38269947.0. Additionally, T. Rowe Price Investment Manageme decreased -3.56% of its stake after which the total value it holdings stand at $2,591,458,876, while Wellington Management Co. LLP added 0.96% of its stake to hold $1.41 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 52,606 shares of Fortive Corp, while SSgA Funds Management, Inc. bought -200,427 shares. At present, RBC Global Asset Management is holding 12,570,391 shares valued at $925.56 million. Fidelity Management & Research Co owned 12,280,041 shares of the company at the time of its most recent 13F filing, worth $904.18 million.

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