Fortive Corp (NYSE: FTV) is 16.07% higher on its value in year-to-date trading and has touched a low of $62.70 and a high of $86.61 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FTV stock was last observed hovering at around $86.20 in the last trading session, with the day’s loss setting it -0.74%.
Currently trading at $85.46, the stock is 0.63% and 7.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.37 million and changing -0.86% at the moment leaves the stock 15.15% off its SMA200. FTV registered 33.61% gain for a year compared to 6-month gain of 11.76%. The firm has a 50-day simple moving average (SMA 50) of $5.27 and a 200-day simple moving average (SMA200) of $20.34.
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The stock witnessed a 2.79% loss in the last 1 month and extending the period to 3 months gives it a 20.93%, and is 1.46% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.49% over the week and 1.32% over the month.
Fortive Corp (FTV) has around 18000 employees, a market worth around $30.03B and $6.07B in sales. Current P/E ratio is 35.10 and Fwd P/E is 20.58. Profit margin for the company is 14.27%. Distance from 52-week low is 36.30% and -1.33% from its 52-week high. The company has generated returns on investments over the last 12 months (6.14%).
Fortive Corp quarterly earnings per share for the current quarter are estimated at $0.79 with sales reaching $1.53B over the same period.The EPS is expected to grow by 10.38% this year, but quarterly earnings will post 6.80% year-over-year. Quarterly sales are estimated to grow 4.60% in year-over-year returns.
1,136 institutions hold shares in Fortive Corp (FTV), with institutional investors hold 96.73% of the company’s shares. The shares outstanding are 350.70M, and float is at 349.95M with Short Float at 0.94%. Institutions hold 96.48% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 39.67 million shares valued at $2.97 billion. The investor’s holdings represent 11.27% of the FTV Shares outstanding. As of Jun 29, 2023, the second largest holder is T. Rowe Price Investment Management, Inc. with 36.5 million shares valued at $2.73 billion to account for 10.37% of the shares outstanding. The other top investors are Blackrock Inc. which holds 31.96 million shares representing 9.08% and valued at over $2.39 billion, while Wellington Management Group, LLP holds 5.37% of the shares totaling 18.91 million with a market value of $1.41 billion.
Fortive Corp (FTV) Insider Activity
The most recent transaction is an insider sale by Walker Stacey A., the company’s SVP – Human Resources. SEC filings show that Walker Stacey A. sold 842 shares of the company’s common stock on Feb 29 ’24 at a price of $85.11 per share for a total of $71663.0. Following the sale, the insider now owns 35716.0 shares.
Fortive Corp disclosed in a document filed with the SEC on Feb 28 ’24 that McLaughlin Charles E (SVP – Chief Financial Officer) sold a total of 40,837 shares of the company’s common stock. The trade occurred on Feb 28 ’24 and was made at $86.28 per share for $3.52 million. Following the transaction, the insider now directly holds 61855.0 shares of the FTV stock.
Still, SEC filings show that on Feb 28 ’24, Walker Stacey A. (SVP – Human Resources) disposed off 9,106 shares at an average price of $86.50 for $0.79 million. The insider now directly holds 36,558 shares of Fortive Corp (FTV).
