Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 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 $2.86 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 $2.93 million.
As published in a research note from JP Morgan on April 17, 2024, Fortive Corp [FTV] has been rated down from an Overweight to a Neutral and the price target has been revised to $90 from $95. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of January 02, 2024, Vertical Research has decreased its “Buy” rating to a “Hold” for FTV. Earlier on October 26, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for FTV stock which previously was a “a Buy”.
Analyzing FTV Stock Performance
During the last five days, there has been a drop of approximately -3.64%. Over the course of the year, Fortive Corp shares have jumped approximately 8.92%. 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 $84.39, while a 200-day SMA reached $76.06. Nevertheless, trading volume fell to 1.87 million shares from 1.55 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 79.60, which, if violated, would cause prices to drop to 78.99. In the upper region, resistance lies at 80.88. The next price resistance is at 81.55. RSI (Relative Strength Index) is 28.27 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.53, which suggests the price will decrease in the coming days. Percent R is at 91.90%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
