This trade activity should not be overlooked: Fortive Corp (FTV)

With 1.4 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.92 million shares. During the session, the Scientific & Technical Instruments company that operates in wider Technology sector, reached to the highest price of $82.56 whereas the lowest price it dropped to was $81.64. The 52-week range on FTV shows that it touched its highest point at $83.46 and its lowest point at $62.70 during that stretch. It currently has a 1-year price target of $85.26. With its current market cap of 28.90 billion, FTV has annualized dividend of $0.31 while the current yield stands at 0.38%. Beta for the stock currently stands at 1.13.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FTV was up-trending over the past week, with a rise of 0.01%, but this was up by 14.43% over a month. Three-month performance surged to 26.60% while six-month performance rose 4.22%. The stock gained 18.62% in the past year, while it has gained 11.69% so far this year. A look at the trailing 12-month EPS for FTV yields 2.44 with Next year EPS estimates of 4.14. For the next quarter, that number is 0.79. This implies an EPS growth rate of 10.11% for this year and 9.69% for next year. EPS is expected to grow by 8.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -21.61%.

Float and Shares Shorts:

At present, 350.70 million FTV shares are outstanding with a float of 350.21 million shares on hand for trading. On Jan 11, 2024, short shares totaled 2.37 million, which was 0.68% higher than short shares on Dec 14, 2023. In addition to VTV as the firm’s Vanguard Value ETF, FNV serves as its Franco-Nevada Corporation.

Institutional Ownership:

Through their ownership of 98.38% of FTV’s outstanding shares, institutional investors have majority control over the company.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FTV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FTV analysts setting a high price target of $98.00 and a low target of $74.70, the average target price over the next 12 months is $85.26. Based on these targets, FTV could surge 19.16% to reach the target high and fall by -9.17% to reach the target low. Reaching the average price target will result in a growth of 3.67% from current levels.

Summary of Insider Activity:

Insiders traded FTV stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 4,689 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 42 over the past year. The total number of shares bought during that period was 429,397 while 229,959 shares were sold.