Fortive Corporation (FTV) Ready To Tore A Hole Through The Roof

After opening Friday at around $75.4, Fortive Corporation (NYSE:FTV) stock surged to as high as $77.49. It then made a downturn, dipping as low as $74.4. Although the stock bounced a bit into the close, it finished the day at $76.82, up 2.4 points or 3.22 percent on the day. The final volume for the day was 3.04 million, which was more than its average volume. The firm is left with a market cap of $24.9 billion and now has 323.53 million shares outstanding. Fortive Corporation (FTV) stock has gained 10.96 percent of market value in 21 trading days.

FTV stock has a trailing 3-year beta of 0, offering the possibility of a lower rate of return, but also posing less risk. The portion of a company’s profit allocated to each outstanding share of common stock was $2.98 a share in the trailing twelve months. The stock’s value has surged 13.54 percent year to date (YTD) against a rise of 7.16 percent in 12 month’s time. The company’s shares still trade -13.04 percent away from its 1-year high of $88.34 and 22.15 percent up from 52-week low of $62.89. The average consensus rating on the company is 2.3, on a scale where 5 equates to a unanimous sell rating. In short, the mean analyst recommendations are calling this stock a sell.

Fortive Corporation (FTV) will probably climb 3.44 percent over the next 12 months, according to price target estimates compiled by finviz. Meanwhile, they have set a $90 price as 12-month high target. This represents a whopping 17.16 percent increase from where shares are trading today. The 12-month median price target assigned by the analysts stands at $79, which represents a return potential of 2.84 percent when compared to the closing price of the stock of $76.82 on Friday, February 08. The lowest price target for the stock is $69 — slightly more than -10.18 percent from FTV’s current share price.

History has shown that shares in Fortive Corporation have gone up on 7 different earnings reaction days and are predicted to add 0.02 percent when the company reports upcoming earnings.

Let’s take a look at some insider activity at Fortive Corporation (NYSE:FTV) and see the pattern. The earliest insider trade took place on 11/16/2018. Walker Stacey A. parted with a total of 0.47 thousand shares of company at average share price of $75.26. The total for the sales was set at $35.22 thousand. After this transaction, the SVP – Human Resources account balance stood at 13.05 thousand shares. The stock grew 2.07 percent since that insider sale. On 11/15/2018, Pringle William W, Senior Vice President, sold 0.48 thousand shares at a price per share of $73.18. This removed 34.83 thousand shares from the insider’s fortune and the stock saw a 4.97 percent rally in value since the news became public. This transaction left 28.64 thousand shares in the Senior Vice President account.

On 11/14/2018, VP – Corporate Development Schwarz Jonathan L performed a sale transaction worth $662.51 thousand. This sale at $74.7 each has eliminated 8.87 thousand shares from the insider’s portfolio position. Meanwhile, shares have recorded 2.84 percent increase since the transaction was reported. The insider now is left with 7.27 thousand shares remaining in the account. Lico James A, who performs the President and CEO job, sold 123.3 thousand shares for $9.3 million. The disposal occurred on 11/02/2018 was priced at $75.41 per share. The share price soared 1.87 percent since the reporting date. Lico James A now left with a stake of 253.53 thousand FTV stock worth $19.48 million after the insider selling.

The stock is currently hovering around the first support level of $74.98. Below this, the next support is placed in the zone of $73.15. Till the time, the FTV stock trades above this level, bulls have nothing to fear. On momentum oscillators front, ‘RSI’ has touched 69.16 on daily chart, which may remain a cause for concern. If the price breaks below $73.15 level on closing basis, then we may see more profit booking and the stock may show further weakness. On the flipside, hitting the $78.07 mark may result into a pull-back move towards $79.33 level.

Shares of Fortive Corporation (FTV) are trading at a P/E ratio of 30.31 times earnings reported for the past 12 months. The industry FTV operates in has an average P/E of 11.62. Its P/E ratio went as low as 21.35X and as high as 31.34 over the 5-year span.Further, it is sporting a 3.43 on the Price-to-Sales ratio. Compare this with the industry average P/S of 2.17. 50.3 percent is the gross profit margin for Fortive Corporation and operating margin sits at 0 percent. Along with this, the net profit margin is 0 percent.