Fortive Corporation [NYSE: FTV] surged by $3.12 during the normal trading session on Wednesday and reaching a high of $62.95 during the day while it closed the day at $62.71. The company report on April 28, 2022 that Fortive Reports Strong First Quarter 2022 Results; Raises Full Year 2022 Outlook.
Q1 revenue growth of 9%, 5% core, reflecting continued strong customer demand.
Performance exceeded expectations despite continued COVID and supply chain challenges.
Fortive Corporation stock has also gained 8.63% of its value over the past 7 days. However, FTV stock has declined by -12.44% in the 3 months of the year. Over the past six months meanwhile, it has lost -18.55% and lost -17.80% year-on date.
The market cap for FTV stock reached $22.92 billion, with 359.30 million shares outstanding and 353.30 million shares in the current float. Compared to the average trading volume of 3.32M shares, FTV reached a trading volume of 5080258 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $78.39 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.
Argus have made an estimate for Fortive Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 17, 2022. The new note on the price target was released on March 14, 2022, representing the official price target for Fortive Corporation stock. Previously, the target price had yet another raise to $82, while Vertical Research analysts kept a Hold rating on FTV stock.
The Average True Range (ATR) for Fortive Corporation is set at 1.65, with the Price to Sales ratio for FTV stock in the period of the last 12 months amounting to 4.36. The Price to Book ratio for the last quarter was 2.36. Price to Free Cash Flow for FTV in the course of the last twelve months was 26.30 with Quick ratio for the last quarter at 0.70.
FTV stock trade performance evaluation
Fortive Corporation [FTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.63. With this latest performance, FTV shares gained by 2.96% in over the last four-week period, additionally sinking by -18.55% over the last 6 months – not to mention a drop of -12.53% 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 62.06, with the RSI for the last a single of trading hit 69.56, and the three-weeks RSI is set at 56.75 for Fortive Corporation [FTV]. The present Moving Average for the last 50 days of trading for this stock 60.06, while it was recorded at 59.44 for the last single week of trading, and 69.82 for the last 200 days.
Fortive Corporation [FTV]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fortive Corporation [FTV] shares currently have an operating margin of +15.82 and a Gross Margin at +57.28. Fortive Corporation’s Net Margin is presently recorded at +11.69.
Return on Equity for this stock inclined to 6.65, with Return on Assets sitting at 3.78.
Fortive Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.
Earnings per share (EPS) analysis for Fortive Corporation [FTV] stock
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 37.79%.
Fortive Corporation [FTV]: Insider Ownership positions
There are presently around $20,316 million, or 96.90% of FTV stock, in the hands of institutional investors. The top three institutional holders of FTV stocks are: VANGUARD GROUP INC with ownership of 36,567,233, which is approximately 0.174% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 33,420,429 shares of the stock with an approximate value of $1.99 billion in FTV stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $1.33 billion in FTV stock with ownership of nearly 20.543% 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 348 institutional holders increased their position in Fortive Corporation [NYSE:FTV] by around 21,230,417 shares. Additionally, 352 investors decreased positions by around 21,652,797 shares, while 147 investors held positions by with 298,045,630 shares. The mentioned changes placed institutional holdings at 340,928,844 shares, according to the latest SEC report filing. FTV stock had 95 new institutional investments in for a total of 1,253,026 shares, while 83 institutional investors sold positions of 5,543,692 shares during the same period.