JPMorgan Chase & Co. Sells 5,009,766 Shares of TechnipFMC plc (NYSE:FTI)

JPMorgan Chase & Co. lowered its position in shares of TechnipFMC plc (NYSE:FTI - Free Report) by 22.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,846,619 shares of the oil and gas company's stock after selling 5,009,766 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.96% of TechnipFMC worth $487,541,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of TechnipFMC by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 40,793,925 shares of the oil and gas company's stock valued at $1,180,576,000 after buying an additional 1,623,864 shares during the last quarter. State Street Corp increased its position in TechnipFMC by 1.7% in the 3rd quarter. State Street Corp now owns 8,200,548 shares of the oil and gas company's stock valued at $215,100,000 after acquiring an additional 133,775 shares in the last quarter. American Century Companies Inc. raised its stake in shares of TechnipFMC by 1.2% in the fourth quarter. American Century Companies Inc. now owns 3,869,442 shares of the oil and gas company's stock worth $111,982,000 after acquiring an additional 46,224 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of TechnipFMC by 7.3% during 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 purchasing an additional 249,719 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of TechnipFMC by 23.0% during the third quarter. Franklin Resources Inc. now owns 3,639,244 shares of the oil and gas company's stock valued at $98,838,000 after purchasing an additional 679,748 shares during the last quarter. 96.58% of the stock is owned by institutional investors.

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TechnipFMC Stock Performance

TechnipFMC stock traded down $2.39 during midday trading on Thursday, reaching $30.23. The stock had a trading volume of 3,437,921 shares, compared to its average volume of 4,402,059. The firm's 50-day moving average price is $29.55 and its 200 day moving average price is $29.07. The firm has a market capitalization of $12.71 billion, a PE ratio of 19.89 and a beta of 1.54. TechnipFMC plc has a 12 month low of $22.99 and a 12 month high of $33.45. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

TechnipFMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Tuesday, March 18th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.20 annualized dividend and a yield of 0.66%. TechnipFMC's payout ratio is 10.42%.

Analyst Ratings Changes

Several brokerages have recently commented on FTI. Evercore ISI lifted their price target on shares of TechnipFMC from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. Barclays lifted their price objective on TechnipFMC from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, March 3rd. 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 target price for the company. StockNews.com cut shares of TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Jefferies Financial Group raised TechnipFMC from a "hold" rating to a "buy" rating and lifted their target price for the company from $29.00 to $40.00 in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.31.

Insider Transactions at TechnipFMC

In other news, Director Carvalho Filho Eleazar De sold 9,381 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.76, for a total transaction of $279,178.56. Following the transaction, the director now directly owns 100,951 shares of the company's stock, valued at $3,004,301.76. This represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO David Light sold 10,147 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 of the company's stock, valued at $187,472.10. The trade was a 57.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,706 shares of company stock valued at $1,651,665. Corporate insiders own 1.80% of the company's stock.

TechnipFMC Company 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.