Fortive Corp [NYSE: FTV] traded at a high on Thursday, posting a 0.37 gain after which it closed the day’ session at $86.20. The company report on March 19, 2024 at 7:00 AM that Fluke Advances Utility-Scale Solar Testing with the Launch of the PVA-1500 Series I-V Curve Tracer.
Fluke’s New I-V Curve Tracer Boosts Efficiency and Accuracy for Faster, Smarter Utility-Scale Solar Testing.
Fluke Corp, a wholly owned subsidiary of Fortive Corporation [NYSE: FTV] and a global leader in test and measurement instruments, today announced the launch of the PVA-1500 Series I-V curve tracer, designed to empower utility-scale solar technicians with speed, accuracy, and streamlined testing operations for effective service and maintenance. This innovative tool addresses the critical need for efficient and reliable PV array testing, ultimately optimizing performance and maximizing ROI.
The results of the trading session contributed to over 3620666 shares changing hands. Over the past one week, the price volatility of Fortive Corp stands at 1.17% while the volatility over the past one month is 1.34%.
The market cap for FTV stock reached $30.29 billion, with 350.70 million shares outstanding and 349.95 million shares in the current float. Compared to the average trading volume of 1.58M shares, FTV reached a trading volume of 3620666 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 Corp [FTV]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTV shares is $87.94 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 1.91. 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.
Truist have made an estimate for Fortive Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 14, 2024. The new note on the price target was released on January 02, 2024, representing the official price target for Fortive Corp stock. Previously, the target price had yet another raise to $70, while BofA Securities analysts kept a Neutral rating on FTV stock.
The Average True Range (ATR) for Fortive Corp is set at 1.21, with the Price to Sales ratio for FTV stock in the period of the last 12 months amounting to 4.99. The Price to Book ratio for the last quarter was 2.93, with the Price to Cash per share for the same quarter was set at 5.38. Price to Free Cash Flow for FTV in the course of the last twelve months was 24.31 with Quick ratio for the last quarter at 1.72.
How has FTV stock performed recently?
Fortive Corp [FTV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.49. With this latest performance, FTV shares gained by 2.12% in over the last four-week period, additionally plugging by 14.86% over the last 6 months – not to mention a rise of 30.72% 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 64.51, with the RSI for the last a single of trading hit 63.97, and the three-weeks RSI is set at 65.43 for Fortive Corp [FTV]. The present Moving Average for the last 50 days of trading for this stock 81.13, while it was recorded at 85.60 for the last single week of trading, and 74.89 for the last 200 days.
Fortive Corp [FTV]: Deeper insight into the fundamentals
Fortive Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.72 and a Current Ratio set at 2.02.
Earnings analysis for Fortive Corp [FTV]
With the latest financial reports released by the company, Fortive Corp posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.73/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.70%. 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 8.60%.
Insider trade positions for Fortive Corp [FTV]
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%.
