The stock of Fortive Corporation (NYSE:FTV) decreased by -$0.79 on Tuesday to finish at $75.67, down -1.03 percent. The last five days have seen an average of 1,732,220 shares of common stock traded. 33 times new highs were reached in the current year, with a gain of $11.42. The average number of shares traded over the last 20 days was 1,682,715, while the average volume over the last 50 days totaled 1,848,542.
FTV stock dropped -0.54% since last month. On 09/19/23, the company’s shares reached a one-month low of $74.99. The stock touched a high of $79.90 on 08/10/23, after rallying from a low of $57.43 in 52 weeks. The price of FTV stock has risen by 17.77% or $11.42 this year, reaching a new high 33 times. Still, the stock price is down -5.29% from the 52-week high.
Insider Transactions
FTV stock investors should be aware that Fortive Corporation (FTV) stock had its last reported insider trading activity 54 days ago on Jul 28. On Jul 28, President & CEO of AHS Murphy Patrick K sold 21,793 shares at $76.50 each. This transaction resulted in the insider making $1,667,164. On Jul 28, McLaughlin Charles E sold 16,911 shares at a price of US$76.66. After the transaction, the insider now owns 101,319 shares. VP – Chief Accounting Officer Mulhall Christopher M. had earlier sold 4,700 shares on Jul 28 for $76.85 a share. The transaction was completed for $361,195.
Valuation Metrics
Fortive Corporation (FTV) has a trailing price-to-earnings (P/E) ratio of 33.75. Beta for the stock is 1.16. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 4.47, the price-to-book (PB) ratio of 2.68, and the price-to-cash flow ratio of 22.55.
Company paid $0.07 per share in dividends, remained unchanged from $0.07 last year.
Financial Health
For the three months ended June 29, Fortive Corporation’s quick ratio was 0.70, while its current ratio was 1.00, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.20, and the total debt to equity ratio is 0.30. As far as profitability goes, gross margin for the trailing twelve months is 58.50% percent. Fortive Corporation’s EBITDA margin for the year ended June 29 was 25.25%, whereas its operating margin stood at 18.00% for the same period. Based on annual data, it had gross profit of $3.36 billion and revenue of $5.83 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FTV’s return on assets (ROA) during the last 12 months has been 5.10%. There was a 6.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 8.20%.
Earnings Surprise
According to Fortive Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.53 billion, while revenues rose by 4.19% to $1.46 billion. It was predicted that Fortive Corporation’s quarterly earnings would be $0.85, but it ended up being $0.81, beating the consensus by 4.90%. EBITDA was $404.8 million for the quarter. At the end of Fortive Corporation’s most recent quarter ended June 29, its liabilities totaled 5.76 billion, while its total debt was $3.14 billion. Equity owned by shareholders amounts to $352.02 million.
Technical Picture
Here’s a quick look at Fortive Corporation’s (FTV) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 38.85%, suggesting the stock is Neutral, with a 19.44% historical volatility rate.
The stochastic %K and %D were 17.68% and 16.73% respectively, while the average true range (ATR) was 1.30. Based on the 14-day stochastic reading of 15.17%, the RSI (14) reading is 42.89%. On the 9-day MACD Oscillator, the stock is at -0.78, and the 14-day reading is at -1.35.
Analyst Ratings
In its analyst report released on August 07, 2023, Seaport Research Partners began covering Fortive Corporation (NYSE: FTV). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Fortive Corporation (FTV) an Overweight rating. FTV is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 10 others recommend it as a buy.
What is FTV’s price target for the next 12 months?
The current consensus forecast for the stock is between $70.00 and $92.00, with a median target price of $84.00. In analyzing these forecasts, the average price target given by analysts for Fortive Corporation (FTV) is $82.94.
