As of Wednesday close, Fortive Corporation’s (NYSE:FTV) stock was up $0.6, moving up 0.76 percent to $79.19. The average number of shares traded per day over the past five days has been 1,766,000 shares. 3 times new highs have been achieved over the past 5 days, with a $1.40 gain in that time frame. In the last twenty days, the average volume was 1,920,245, while in the previous 50 days, it was 1,798,900.
Since last month, FTV stock rose 1.12%. Shares of the company fell to $75.33 on 08/18/23, the lowest level in the past month. A 52-week high of $79.90 was reached on 08/10/23 after having rallying from a 52-week low of $57.43. Since the beginning of this year, FTV’s stock price has risen by 23.25% or $14.94, and marked a new high 33 times. However, the stock has declined by -0.89% since its 52-week high.
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FTV stock investors should be aware that Fortive Corporation (FTV) stock had its last reported insider trading activity 34 days ago on Jul 28. Murphy Patrick K, the President & CEO of AHS of the company, disposed of 21,793 shares for $76.50 on Jul 28. It resulted in a $1,667,164 divestment by the insider. McLaughlin Charles E sold 16,911 shares at an average price of $76.66 on Jul 28. The insider now owns 101,319 shares following the transaction. On Jul 28, VP – Chief Accounting Officer Mulhall Christopher M. sold 4,700 shares at $76.85 apiece. The transaction was valued at $361,195.
Valuation Metrics
Right now, Fortive Corporation (FTV) has a P/E ratio of about 35.32. The stock’s beta is 1.16. Besides these, the trailing price-to-sales (P/S) ratio of 4.61, the price-to-book (PB) ratio of 2.81, and the price-to-cash flow ratio of 23.23 may also be considered.
The latest dividend of $0.07 per share was paid out, remained unchanged from last year’s $0.07.
Financial Health
In the three months ended June 29, Fortive Corporation’s quick ratio stood at 0.70, while its current ratio was 1.00, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.20, and the total debt-to-equity ratio was 0.30. On the profitability front, the trailing twelve-month gross margin is 58.50% percent. In the year ended June 29, EBITDA margin amounted to 25.25%, whereas operating margins totaled 18.00%. Based on annual data, FTV earned $3.36 billion in gross profit and brought in $5.83 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 6.70%. Return on equity (ROE) for the past 12 months was 8.20%.
In Fortive Corporation’s quarter-end financial report for June 29, it reported total debt of $1.98 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. FTV’s revenue rose 4.19% to $1.46 billion during the quarter, while net income inched up to $1.53 billion. While analysts expected Fortive Corporation to report $0.81 quarterly earnings, the actual figure was $0.85 per share, beating the consensus estimate by 4.90%. During the quarter, the company generated $404.8 million in EBITDA. The liabilities of Fortive Corporation were 5.76 billion at the end of its most recent quarter ended June 29, and its total debt was $3.14 billion. The value of shareholders’ equity is $352.02 million.
Technical Picture
This quick technical analysis looks at Fortive Corporation’s (FTV) price momentum. With a historical volatility rate of 20.31%, the RSI 9-day stood at 62.63% on 30 August.
With respect to its five-day moving average, the current Fortive Corporation price is up by +1.80% percent or $1.40. At present, FTV shares trade +1.16% above its 20-day simple moving average and +23.04% percent above its 100-day simple moving average. However, the stock is currently trading approximately +10.76% above its SMA50 and +16.63% above its SMA200.
Stochastic coefficient K was 68.40% and Stochastic coefficient D was 51.29%, while ATR was 1.24. Given the Stochastic reading of 86.16% for the 14-day period, the RSI (14) reading has been calculated as 61.02%. As of today, the MACD Oscillator reading stands at 1.18, while the 14-day reading stands at 0.60.
Analyst Ratings
Seaport Research Partners launched its rating on Fortive Corporation (NYSE: FTV) to a Buy in a note to investors on August 07, 2023. Fortive Corporation (FTV) has been rated Overweight by analysts. According to 0 brokerage firms, FTV is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 4 analysts rate Fortive Corporation stock as buy, with 10 recommending it as overweight.
With a median target price of $84.00, the current consensus forecast for the stock is $70.00 – $92.00. Based on these forecasts, analysts predict Fortive Corporation (FTV) will achieve an average price target of $82.94.
