Fortive Corporation [NYSE: FTV] slipped around -0.04 points on Tuesday, while shares priced at $70.17 at the close of the session, down -0.06%. The company report on June 30, 2021 that Fortive Announces Conversion Date for Mandatory Convertible Preferred Stock.
Fortive Corporation (“Fortive”) (NYSE: FTV) announced that its 5.00% Mandatory Convertible Preferred Stock, Series A (the “Preferred Stock”), will automatically convert into shares of the Company’s common stock on July 1, 2021 (the “Conversion Date”). The conversion rate for each share of Preferred Stock will be 14.0978 shares of the Company’s common stock. Cash will be paid in lieu of fractional shares of common stock.
As previously announced, on July 1, 2021 holders of record at the close of business on June 15, 2021 will separately receive a final quarterly cash dividend of $12.50 per share on the Preferred Stock.
Fortive Corporation stock is now -0.92% down from its year-to-date (YTD) trading value. FTV Stock saw the intraday high of $70.61 and lowest of $69.63 per share. The company’s 52-week high price is 75.00, which means current price is +8.66% above from all time high which was touched on 04/29/21.
Compared to the average trading volume of 2.56M shares, FTV reached a trading volume of 2724068 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Fortive Corporation [FTV]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTV shares is $80.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTV stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Fortive Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 20, 2021. The new note on the price target was released on February 17, 2021, representing the official price target for Fortive Corporation stock. Previously, the target price had yet another raise from $71 to $78, while Wolfe Research kept a Peer Perform rating on FTV stock.
The Average True Range (ATR) for Fortive Corporation is set at 1.10, with the Price to Sales ratio for FTV stock in the period of the last 12 months amounting to 5.65. The Price to Book ratio for the last quarter was 2.64, with the Price to Cash per share for the same quarter was set at 3.86.
How has FTV stock performed recently?
Fortive Corporation [FTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.83. With this latest performance, FTV shares dropped by -3.24% in over the last four-week period, additionally plugging by 1.74% over the last 6 months – not to mention a rise of 23.56% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTV stock in for the last two-week period is set at 46.60, with the RSI for the last a single of trading hit 47.76, and the three-weeks RSI is set at 47.15 for Fortive Corporation [FTV]. The present Moving Average for the last 50 days of trading for this stock 71.46, while it was recorded at 69.77 for the last single week of trading, and 70.22 for the last 200 days.
Fortive Corporation [FTV]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fortive Corporation [FTV] shares currently have an operating margin of +14.03 and a Gross Margin at +56.46. Fortive Corporation’s Net Margin is presently recorded at +31.34.
Return on Total Capital for FTV is now 4.76, given the latest momentum, and Return on Invested Capital for the company is 11.94. Return on Equity for this stock inclined to 17.76, with Return on Assets sitting at 8.67. When it comes to the capital structure of this company, Fortive Corporation [FTV] has a Total Debt to Total Equity ratio set at 49.43. Additionally, FTV Total Debt to Total Capital is recorded at 33.08, with Total Debt to Total Assets ending up at 27.61. Long-Term Debt to Equity for the company is recorded at 33.29, with the Long-Term Debt to Total Capital now at 22.28.
Reflecting on the efficiency of the workforce at the company, Fortive Corporation [FTV] managed to generate an average of $85,424 per employee. Receivables Turnover for the company is 4.22 with a Total Asset Turnover recorded at a value of 0.28.Fortive Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.
Earnings analysis for Fortive Corporation [FTV]
With the latest financial reports released by the company, Fortive Corporation posted 0.68/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FTV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fortive Corporation go to 9.77%.
Insider trade positions for Fortive Corporation [FTV]
There are presently around $21,899 million, or 94.50% of FTV stock, in the hands of institutional investors. The top three institutional holders of FTV stocks are: VANGUARD GROUP INC with ownership of 33,965,479, which is approximately 0.934% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 26,815,381 shares of the stock with an approximate value of $1.88 billion in FTV stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.46 billion in FTV stock with ownership of nearly -31.836% of the company’s market capitalization.
Positions in Fortive Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 324 institutional holders increased their position in Fortive Corporation [NYSE:FTV] by around 27,270,109 shares. Additionally, 354 investors decreased positions by around 29,340,315 shares, while 139 investors held positions by with 255,470,641 shares. The mentioned changes placed institutional holdings at 312,081,065 shares, according to the latest SEC report filing. FTV stock had 62 new institutional investments in for a total of 1,250,641 shares, while 80 institutional investors sold positions of 1,116,286 shares during the same period.