At the time of writing, Fortive Corp [FTV] stock is trading at $85.78, up 0.37%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The FTV shares have gain 0.91% over the last week, with a monthly amount glided 3.95%, and seem to be holding up well over a long-time horizon.
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On 12, March 2024, Fortive to Present at the Bank of America Global Industrials Conference. In a post published today on Yahoo Finance, Fortive Corporation (“Fortive”) (NYSE: FTV) today announced that Charles E. McLaughlin, Chief Financial Officer, will be presenting at the Bank of America Global Industrials Conference on Tuesday, March 19th, 2024 at 2:50 p.m. GMT (10:50 a.m. EDT). The audio will be simultaneously webcast and will be archived on www.fortive.com.
From an analyst’s perspective:
Fortive Corp [NYSE: FTV] stock has seen the most recent analyst activity on March 14, 2024, when Truist initiated its Buy rating and assigned the stock a price target of $99. Previously, Vertical Research downgraded its rating to Hold on January 02, 2024. On October 26, 2023, downgrade downgraded it’s rating to Neutral but maintained its price target of $70 on the stock. Exane BNP Paribas started tracking the stock assigning a Outperform rating and suggested a price target of $91 on October 05, 2023. Seaport Research Partners initiated its recommendation with a Buy and recommended $92 as its price target on August 07, 2023. Vertical Research upgraded its rating to Buy for this stock on March 27, 2023, but kept the price target unchanged to $74. In a note dated October 12, 2022, Morgan Stanley upgraded an Overweight rating on this stock and boosted its target price from $68 to $73.
For the past year, the stock price of Fortive Corp fluctuated between $62.70 and $86.75. Currently, Wall Street analysts expect the stock to reach $78.67 within the next 12 months. Fortive Corp [NYSE: FTV] shares were valued at $85.78 at the most recent close of the market. An investor can expect a potential drop of -8.29% based on the average FTV price forecast.
Analyzing the FTV fundamentals
According to Fortive Corp [NYSE:FTV], the company’s sales were 6.07B for trailing twelve months, which represents an 3.52% jump. Gross Profit Margin for this corporation currently stands at 0.54% with Operating Profit Margin at 0.21%, Pretax Profit Margin comes in at 0.18%, and Net Profit Margin reading is 0.16%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.09 and Total Capital is 0.07. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.36.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 85.04 points at the first support level, and at 84.29 for the second support level. However, for the 1st resistance point, the stock is sitting at 86.51, and for the 2nd resistance point, it is at 87.23.
Fortive Corp [FTV] reported earnings per share of $0.98 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.94/share, meaning a difference of $0.04 and a surprise factor of 4.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.85 per share as compared to estimates of $0.85 per share, a difference of $0 representing a surprise of 0.00%.
Ratios To Look Out For
It is important to note that Fortive Corp [NYSE:FTV] has a current ratio of 2.02. Also, the Quick Ratio is 1.72, while the Cash Ratio stands at 1.05. Considering the valuation of this stock, the price to sales ratio is 4.97, the price to book ratio is 2.92 and price to earnings (TTM) ratio is 35.23.
Transactions by insiders
Recent insider trading involved Walker Stacey A., SVP – Human Resources, that happened on Feb 29 ’24 when 842.0 shares were sold. SVP – Chief Financial Officer, McLaughlin Charles E completed a deal on Feb 28 ’24 to sell 40837.0 shares. Meanwhile, SVP – Human Resources Walker Stacey A. sold 9106.0 shares on Feb 28 ’24.
