Fortive Corporation (NYSE: FTV) Stock Declined -4.19% Last Week – That’s Proof That Its Volatility Isn’t Going Anywhere

Fortive Corporation (NYSE:FTV) does about 2.01M shares in volume on a normal day but saw 3500117 shares change hands in Friday trading. The company now has a market cap of 27.24B USD . Its current market price is $76.08, marking a decrease of -1.68% compared to the previous close of $77.38. The 52 week high reached by this stock is $79.90 whilst the lowest price level in 52 weeks is $57.43. The script in recent trading has seen the stock touch a high of $76.65 and a low of $75.33. Fortive Corporation (FTV) has a 20-day trading average at $77.73 and the current price is -4.78% off the 52-week high compared with 32.47% distance from its 52-week low. The 50-day simple moving average of the closing price is $74.60 and its 200-day simple moving average is $68.24. If we look at the stock’s price movements over the week, volatility stands at 1.39%, which increases to 1.62% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 45.42 to suggest the stock is neutral. 20 analysts observing the Fortive Corporation (FTV) stock have set the 12-month price targets for the company’s shares at between $70.00 and $92.00. The consensus objective for the share price is $81.62, suggesting that the stock has a potential upside of 6.79% over the period. The median price target is 9.43% away from the current levels at $84.00. FactSet Research has provided data showing that 20 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 4 advise that it is a overweight. 10 analysts have rated it as a buy and 6 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock. The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 07, 2023 when Seaport Research Partners initiated the stock to “Buy” and issued a price target of $92. The current price level is -2.01%, 2.18%, and 11.60% away from its SMA20, SMA50, and SMA200 respectively, with the FTV price moving above the 50-day SMA on August 18. Fortive Corporation (FTV) stock is down -4.19% over the week and 2.34% over the past month. Its price is 18.41% year-to-date and 11.82% over the past year. The stock last released its quarterly earnings report for quarter ended 6/29/2023, with the company’s earnings per share (EPS) of $0.85 above consensus estimates by $0.04. FTV’s earnings per share are forecast to grow by 7.90% this year and 9.10% over next year. Expected sales for next quarter are $1.59 billion, which analysts say will come at $6.1 billion for the current fiscal year and next year at $6.38 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.51 billion. To reach the target analysts have set, the stock logically needs to grow 6.79 percent from here. Outstanding shares total 353.00M with insiders holding 0.23% of the shares and institutional holders owning 97.13% of the company’s common stock. The company has a return on investment of 6.70% and return on equity of 8.20%. The price to earnings ratio (P/E ratio) amounts to 33.93 while the forward price to earnings ratio is 20.50. The beta has a value of 1.15. Price to book ratio is 2.70 and price to sales ratio is 4.56. According to a U.S. Securities and Exchange Commission filing, T Rowe Price Capital Appreciation has added its position in Fortive Corporation (FTV) to 15,671,743 shares, mirroring a recent increase by 9.06%. T Rowe Price Capital Appreciation added 1.3 million shares of Fortive Corporation common stock bringing its total worth to about $1.23 billion at the end of recent close, SEC documents show. T Rowe Price Capital Appreciation isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market ETF, which sold off 11662.0 shares to end up with 11,002,191 shares worth $862.02 million. Vanguard Wellington Fund cut their holdings by -1.76% in the company over the course of the most recent quarter. It now holds a 3.11% position in Fortive Corporation thanks to 10.95 million shares amounting to $857.7 million.