Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Fortive Corp shares valued at $71,663 were sold by Walker Stacey A. on Feb 29 ’24. At $85.11 per share, Walker Stacey A. sold 842 shares. The insider’s holdings dropped to 35,716 shares worth approximately $2.97 million following the completion of this transaction.
Also, McLaughlin Charles E sold 40,837 shares, netting a total of over 3,523,416 in proceeds. Following the sale of shares at $86.28 each, the insider now holds 61,855 shares.
Before that, Walker Stacey A. had sold 9,106 shares from its account. In a trade valued at $787,669, the SVP – Human Resources traded Fortive Corp shares for $86.50 each. Upon closing the transaction, the insider’s holdings decreased to 9,106 shares, worth approximately $3.04 million.
As published in their initiating research note from Truist on March 14, 2024, Fortive Corp [FTV] has been a Buy and the price target has been revised to $99. Analysts at Vertical Research downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of October 26, 2023, BofA Securities has decreased its “Buy” rating to a “Neutral” for FTV. Earlier on October 05, 2023, Exane BNP Paribas initiated its rating. Their recommendation was “an Outperform” for FTV stock.
Analyzing FTV Stock Performance
During the last five days, there has been a drop of approximately -1.78%. Over the course of the year, Fortive Corp shares have jumped approximately 13.04%. Shares of the company reached a 52-week high of $87.10 on 03/22/24 and a 52-week low of $70.50 on 01/17/24. A 50-day SMA is recorded $84.22, while a 200-day SMA reached $75.85. Nevertheless, trading volume fell to 1.46 million shares from 1.23 million shares the previous day.
Support And Resistance Levels for Fortive Corp (FTV)
According to the 24-hour chart, there is a support level at 82.63, which, if violated, would cause prices to drop to 82.03. In the upper region, resistance lies at 83.90. The next price resistance is at 84.56. RSI (Relative Strength Index) is 41.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.91, which suggests the price will decrease in the coming days. Percent R is at 87.95%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Fortive Corp subject to short interest?
Stocks of Fortive Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.31 million shares to 3.36 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.05 million shares. A jump of 9.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.47 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.47.
