Cannon Global Investment Management LLC Has $1.04 Million Position in TechnipFMC plc (NYSE:FTI)

Cannon Global Investment Management LLC lowered its stake in TechnipFMC plc (NYSE:FTI - Free Report) by 41.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 36,000 shares of the oil and gas company's stock after selling 25,000 shares during the period. TechnipFMC accounts for approximately 2.3% of Cannon Global Investment Management LLC's holdings, making the stock its 8th biggest holding. Cannon Global Investment Management LLC's holdings in TechnipFMC were worth $1,042,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of TechnipFMC by 23.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock worth $98,838,000 after acquiring an additional 679,748 shares during the period. Avantax Advisory Services Inc. boosted its stake in TechnipFMC by 24.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,921 shares of the oil and gas company's stock worth $634,000 after purchasing an additional 4,314 shares during the period. Park Avenue Securities LLC purchased a new position in TechnipFMC during the 4th quarter worth approximately $519,000. Westfield Capital Management Co. LP acquired a new stake in TechnipFMC during the 3rd quarter valued at $49,273,000. Finally, Charles Schwab Investment Management Inc. lifted 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 valued at $105,618,000 after purchasing an additional 249,719 shares in the last quarter. Institutional investors own 96.58% of the company's stock.

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Insider Activity at TechnipFMC

In other news, EVP Justin Rounce sold 42,178 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $26.55, for a total value of $1,119,825.90. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David Light sold 10,147 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $24.90, for a total transaction of $252,660.30. Following the transaction, the chief accounting officer now directly owns 7,529 shares in the company, valued at approximately $187,472.10. This represents a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,706 shares of company stock valued at $1,651,665. Insiders own 1.06% of the company's stock.

Analysts Set New Price Targets

FTI has been the topic of a number of research reports. Jefferies Financial Group upgraded TechnipFMC from a "hold" rating to a "buy" rating and upped their target price for the company from $29.00 to $40.00 in a report on Friday, December 6th. The Goldman Sachs Group assumed coverage on shares of TechnipFMC in a research note on Friday, December 13th. They issued a "buy" rating and a $38.00 price objective for the company. TD Cowen reaffirmed a "buy" rating and issued a $37.00 target price on shares of TechnipFMC in a report on Wednesday, November 27th. Evercore ISI raised their price objective on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 15th. Finally, Barclays upped their target price on shares of TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $36.31.

TechnipFMC Trading Up 1.8 %

NYSE:FTI traded up $0.54 on Tuesday, reaching $30.38. The company's stock had a trading volume of 3,626,511 shares, compared to its average volume of 3,758,656. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 1.14. TechnipFMC plc has a 1-year low of $22.99 and a 1-year high of $33.45. The firm has a market cap of $12.78 billion, a PE ratio of 19.99 and a beta of 1.54. The business's 50-day moving average price is $29.65 and its two-hundred day moving average price is $28.78.

TechnipFMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Tuesday, March 18th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.66%. TechnipFMC's payout ratio is presently 10.42%.

About TechnipFMC

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.