Fortive Corp [FTV] Is Currently 4.66 below its 200 Period Moving Avg: What Does This Mean?

Fortive Corp [NYSE: FTV] stock went on an upward path that rose over 4.66% on Wednesday, amounting to a one-week price increase of more than 6.02%. The company report on January 31, 2024 at 7:30 AM that Fortive Reports Strong Fourth Quarter and Full Year 2023 Results; Introduces First Quarter and Full Year 2024 Outlook.

Strong execution and operational performance driven by the power of the Fortive Business System (FBS), delivering 2023 results above prior expectations.

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Q4 total and core revenue growth of 4% and 3% respectively, with record margin performance.

Over the last 12 months, FTV stock rose by 18.04%. The one-year Fortive Corp stock forecast points to a potential upside of 4.18. The average equity rating for FTV stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $27.47 billion, with 350.70 million shares outstanding and 350.20 million shares in the current float. Compared to the average trading volume of 1.91M shares, FTV stock reached a trading volume of 4505740 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Fortive Corp [FTV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTV shares is $81.59 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 2.00. 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.

Vertical Research have made an estimate for Fortive Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 02, 2024.

The Average True Range (ATR) for Fortive Corp is set at 1.56, with the Price to Sales ratio for FTV stock in the period of the last 12 months amounting to 4.53. The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 5.37. Price to Free Cash Flow for FTV in the course of the last twelve months was 22.05 with Quick ratio for the last quarter at 1.34.

FTV Stock Performance Analysis:

Fortive Corp [FTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.02. With this latest performance, FTV shares gained by 6.18% in over the last four-week period, additionally sinking by -0.17% over the last 6 months – not to mention a rise of 18.04% 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 76.87, with the RSI for the last a single of trading hit 83.06, and the three-weeks RSI is set at 71.77 for Fortive Corp [FTV]. The present Moving Average for the last 50 days of trading for this stock 71.36, while it was recorded at 75.17 for the last single week of trading, and 71.53 for the last 200 days.

Insight into Fortive Corp Fundamentals:

Fortive Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.57.

FTV Stock EPS

With the latest financial reports released by the company, Fortive Corp posted 0.88/share EPS, while the average EPS was predicted by analysts to be reported at 0.84/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.80%. 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 Corp go to 6.90%.

Fortive Corp [FTV] Institutonal Ownership Details

The top three institutional holders of FTV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FTV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FTV stock with ownership which is approximately 5.8325%.