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Keeping an Eye on Fortive Corp (FTV) After Insider Trading Activity

Fortive Corp’s filing revealed that its SVP – Human Resources Walker Stacey A. unloaded Company’s shares for reported $71663.0 on Feb 29 ’24. In the deal valued at $85.11 per share,842 shares were sold. As a result of this transaction, Walker Stacey A. now holds 35,716 shares worth roughly $2.75 million.

Then, McLaughlin Charles E sold 40,837 shares, generating $3,523,416 in total proceeds. Upon selling the shares at $86.28, the SVP – Chief Financial Officer now owns 61,855 shares.

Before that, Walker Stacey A. sold 9,106 shares. Fortive Corp shares valued at $787,669 were divested by the SVP – Human Resources at a price of $86.50 per share. As a result of the transaction, Walker Stacey A. now holds 36,558 shares, worth roughly $2.81 million.

JP Morgan downgraded its Fortive Corp [FTV] rating to a Neutral from a an Overweight in a research note published on April 17, 2024; the price target was decreased to $90 from $95. A number of analysts have revised their coverage, including Truist’s analysts, who began to cover the stock in mid March with a ‘”a Buy”‘ rating. Vertical Research also remained covering FTV and has decreased its forecast on January 02, 2024 with a “Hold” recommendation from previously “Buy” rating. BofA Securities revised its rating on October 26, 2023. It rated FTV as “a Neutral” which previously was an “a Buy”.

Price Performance Review of FTV

On Friday, Fortive Corp [NYSE:FTV] saw its stock fall -0.77% to $76.88. Over the last five days, the stock has gained 1.05%. Fortive Corp shares have risen nearly 4.41% since the year began. Nevertheless, the stocks have risen 19.10% over the past one year. While a 52-week high of $87.10 was reached on 03/22/24, a 52-week low of $63.05 was recorded on 01/17/24. SMA at 50 days reached $82.05, while 200 days put it at $76.32. A total of 1.51 million shares were traded, compared to the trading of 1.07 million shares in the previous session.

Levels Of Support And Resistance For FTV Stock

The 24-hour chart illustrates a support level at 76.43, which if violated will result in even more drops to 75.99. On the upside, there is a resistance level at 77.71. A further resistance level may holdings at 78.55. The Relative Strength Index (RSI) on the 14-day chart is 39.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.51%. Stochastics %K at 51.46% indicates the stock is a holding.

The most recent change occurred on October 05, 2023 when Exane BNP Paribas began covering the stock and recommended ‘”an Outperform”‘ rating along with a $91 price target.

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