Fortive Corporation’s recent filing unveils that its President & CEO of AHS Murphy Patrick K unloaded Company’s shares for reported $2.25 million on Nov 11. In the deal valued at $68.56 per share,32,788 shares were sold. As a result of this transaction, Murphy Patrick K now holds 62,929 shares worth roughly $4.23 million.
Then, McLaughlin Charles E sold 13,156 shares, generating $900,397 in total proceeds. Upon selling the shares at $68.44, the SVP – Chief Financial Officer now owns 88,818 shares.
Before that, SPOON ALAN G bought 17,400 shares. Fortive Corporation shares valued at $1,013,493 were divested by the Director at a price of $58.25 per share. As a result of the transaction, SPOON ALAN G now holds 98,861 shares, worth roughly $6.65 million.
Morgan Stanley upgraded its Fortive Corporation [FTV] rating to an Overweight from a an Equal-weight in a research note published on Monday, October 12, 2022; the price target was increased to $73 from $68. PT values the company’s stock at a premium of 7.92 to its Monday closing price. A number of analysts have revised their coverage, including Argus’s analysts, who increased its forecast for the stock in mid March from “a Hold” to “a Buy”. Barclays also remained covering FTV and has increased its forecast on March 14, 2022 with a “an Overweight” recommendation from previously “an Equal weight” rating. Vertical Research revised its rating on January 03, 2022. It rated FTV as “a Hold” which previously was an “a Buy”.
Price Performance Review of FTV
On Monday, Fortive Corporation [NYSE:FTV] saw its stock fall -1.49% to $67.22. On the same session, the stock had its day’s lowest price of $66.698, but rose to a high of $67.60. Over the last five days, the stock has gained 2.39%. Fortive Corporation shares have fallen nearly -11.89% since the year began. Nevertheless, the stocks have fallen -9.81% over the past one year. While a 52-week high of $76.93 was reached on 01/03/22, a 52-week low of $52.47 was recorded on 07/14/22. SMA at 50 days reached $63.45, while 200 days put it at $61.29. A total of 1.51 million shares were traded, compared to the trading of 1.36 million shares in the previous session.
Levels Of Support And Resistance For FTV Stock
The 24-hour chart illustrates a support level at 66.75, which if violated will result in even more drops to 66.27. On the upside, there is a resistance level at 67.65. A further resistance level may holdings at 68.07. The Relative Strength Index (RSI) on the 14-day chart is 55.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 32.45%. Stochastics %K at 75.44% indicates the stock is a holding.
How much short interest is there in Fortive Corporation?
A steep rise in short interest was recorded in Fortive Corporation stocks on Oct 13, 2022, growing by 0.34 million shares to a total of 5.39 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 5.05 million shares. There was a rise of 6.31%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.69% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.99.
Fortive Corporation [FTV] – Who Are The Largest Shareholders?
In filings from T. Rowe Price Investment Manageme, it is revealed that the company now owns 41,619,139 shares, or roughly 11.76% of the outstanding FTV shares. Additionally, The Vanguard Group, Inc. decreased -0.13% of its stake after which the total value it holdings stand at $2,418,819,033, while Wellington Management Co. LLP reduced -4.12% of its stake to hold $1.18 billion in the firm. Over the last quarter, BlackRock Fund Advisors sold -23,209 shares of Fortive Corporation, while RBC Global Asset Management sold -47,547 shares. At present, SSgA Funds Management, Inc. is holding 13,357,416 shares valued at $853.54 million. Flossbach von Storch AG owned 12,696,874 shares of the company at the time of its most recent 13F filing, worth $811.33 million.
According to FactSet, Fortive Corporation’s share price will average $73.07 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.98 percent from its previous closing price of $68.24. Analysts expect Fortive Corporation stock to reach the higher price of $85.00, while the lowest price estimate is $60.00. However, 22 analysts have rated FTV stock as an Overweight in their predictions for 2022. The most recent change occurred on December 17, 2021 when Mizuho began covering the stock and recommended ‘”a Neutral”‘ rating along with a $82 price target.