The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Fortive Corp shares valued at $508,142 were sold by McLaughlin Charles E on Sep 13 ’24. At $74.03 per share, McLaughlin Charles E sold 6,864 shares. The insider’s holdings dropped to 73,391 shares worth approximately $5.67 million following the completion of this transaction.
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Also, Schwarz Jonathan L sold 14,223 shares, netting a total of over 1,049,657 in proceeds. Following the sale of shares at $73.80 each, the insider now holds 68,161 shares.
Before that, Schwarz Jonathan L had added 14,223 shares to its account. In a trade valued at $1,049,612, the Officer bought Fortive Corp shares for $73.80 each.
As published in a research note from Mizuho on September 06, 2024, Fortive Corp [FTV] has been rated up from a Neutral to an Outperform and the price target has been revised to $90 from $80. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in early September. As of September 06, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for FTV. Earlier on September 05, 2024, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for FTV stock which previously was a “a Mkt perform”.
Analyzing FTV Stock Performance
During the last five days, there has been a surge of approximately 5.30%. Over the course of the year, Fortive Corp shares have jumped approximately 4.97%. Shares of the company reached a 52-week high of $87.10 on 03/22/24 and a 52-week low of $66.15 on 08/05/24. A 50-day SMA is recorded $72.42, while a 200-day SMA reached $76.28. Nevertheless, trading volume fell to 3.16 million shares from 1.92 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 76.37, which, if violated, would cause prices to drop to 75.44. In the upper region, resistance lies at 77.95. The next price resistance is at 78.60. RSI (Relative Strength Index) is 68.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.50, which suggests the price will increase in the coming days. Percent R is at 5.23%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
