Fortive Corporation (FTV): Not All Is OK

The stock of Fortive Corporation (NYSE:FTV) has been Reiterated to Buy by BofA/Merrill in its latest research note that was published on September 05. FTV has given a price target of $80 by BofA/Merrill, with other Wall Street analysts also giving their reports regarding the stock. Gordon Haskett analysts have downgraded their rating of FTV stock from Buy to Hold in a separate flash note to investors on August 05. Analysts at Cowen downgraded the stock to a Underperform call from its previous Market Perform stance, in a research note that dated back to June 03.

Fortive Corporation, which has current market capitalization of above $23 Billion, published its last quarter earnings on June 30, 2019.

FTV surged by $0.96 during the normal trading session on Friday and reaching a high of $69.06 during the day while it closed the day at $68.47. The Fortive stock had a high trading volume of 3.03 million shares on that day, which is high compared to the average daily volume of 1.78M shares. FTV has also lost 3.14% of its value over the past 7 days. However, the stock has declined by 13.30% in the 3 months of the year. Over the past six months meanwhile, it has lost 14.84% while it has added 1.20% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -17.68% from its 3 months high price. However, taking another look at FTV will indicate that it is trading +4.5% away from its 90-day low. Looking at the bigger picture, the Fortive Corporation stock has dropped by -23.48% from its 52-week high while it has surged by +8.87% from its 52-week low price.

On August 05, 2019 Walker Stacey A., SVP – Human Resources sold 34446 shares of the company. The average price for that transaction was $70.7 per share, which meant that Walker Stacey A. earned $2435332 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with VP – Chief Accounting Officer, Weaver Emily A. selling 519 shares of this stock on May 17, 2019. The average selling price for the stock was $80.98 per share, with the sold stock accruing $42028.62. Following this transaction, the VP – Chief Accounting Officer Weaver Emily A. now holds 8627 shares of the company, which is worth around $587498.7.

Fortive has around 1 Trillion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $3 Trillion. The Fortive stock is bringing in revenue of over 12 months, which is roughly 904 Billion. Despite all that, Fortive Corporation is seeing things progressing very much as their y-o-y quarterly revenue surged by 8.81%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 16.7%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 47.97%. Over the past 20 days, Fortive’s Stochastic %K stood at 36.54% while its Stochastic %D was revealed to be 39.93%.