Aster Capital Management DIFC Ltd Makes New Investment in TechnipFMC plc (NYSE:FTI)

Aster Capital Management DIFC Ltd bought a new position in shares of TechnipFMC plc (NYSE:FTI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 22,228 shares of the oil and gas company's stock, valued at approximately $643,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in TechnipFMC by 23.0% in the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after purchasing an additional 679,748 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in TechnipFMC by 24.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock valued at $634,000 after buying an additional 4,314 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in TechnipFMC in the fourth quarter worth about $519,000. Raymond James Financial Inc. acquired a new position in shares of TechnipFMC during the fourth quarter valued at about $9,152,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of TechnipFMC by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,649,541 shares of the oil and gas company's stock worth $105,618,000 after buying an additional 249,719 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Evercore ISI lifted their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. The Goldman Sachs Group started coverage on shares of TechnipFMC in a report on Friday, December 13th. They set a "buy" rating and a $38.00 target price for the company. Barclays increased their price target on TechnipFMC from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, March 3rd. Finally, Piper Sandler boosted their price objective on TechnipFMC from $39.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.31.

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TechnipFMC Trading Up 3.5 %

FTI traded up $0.86 during mid-day trading on Friday, hitting $25.00. 5,046,953 shares of the stock were exchanged, compared to its average volume of 3,925,379. The company has a market cap of $10.51 billion, a PE ratio of 16.44 and a beta of 1.11. The company has a current ratio of 1.14, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average is $28.55 and its two-hundred day moving average is $28.98. TechnipFMC plc has a 1-year low of $22.12 and a 1-year high of $33.45.

TechnipFMC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.80%. TechnipFMC's dividend payout ratio (DPR) is presently 10.42%.

Insider Transactions at TechnipFMC

In other news, CAO David Light sold 10,147 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total value of $252,660.30. Following the transaction, the chief accounting officer now owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Justin Rounce sold 42,178 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $26.55, for a total value of $1,119,825.90. Following the sale, the executive vice president now owns 140,207 shares of the company's stock, valued at approximately $3,722,495.85. The trade was a 23.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,706 shares of company stock valued at $1,651,665. 1.80% of the stock is currently owned by company insiders.

TechnipFMC Profile

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.