Sumitomo Mitsui Trust Group Inc. Has $5.39 Million Holdings in Flowserve Co. (NYSE:FLS)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Flowserve Co. (NYSE:FLS - Free Report) by 26.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 93,702 shares of the industrial products company's stock after selling 33,504 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.07% of Flowserve worth $5,390,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FLS. True Wealth Design LLC bought a new position in Flowserve during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in Flowserve during the 3rd quarter worth about $27,000. Ashton Thomas Securities LLC bought a new position in Flowserve during the 3rd quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new position in Flowserve during the 3rd quarter worth about $29,000. Finally, Allworth Financial LP increased its holdings in Flowserve by 159.9% during the 3rd quarter. Allworth Financial LP now owns 655 shares of the industrial products company's stock worth $34,000 after purchasing an additional 403 shares in the last quarter. Institutional investors and hedge funds own 93.93% of the company's stock.

Flowserve Stock Performance

Flowserve stock traded down $0.48 during midday trading on Monday, reaching $62.25. 1,268,765 shares of the company's stock were exchanged, compared to its average volume of 1,204,735. Flowserve Co. has a 52 week low of $41.60 and a 52 week high of $65.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 1.99. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 30.82, a P/E/G ratio of 1.29 and a beta of 1.42. The stock's 50-day simple moving average is $60.75 and its 200 day simple moving average is $55.55.

Flowserve Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Friday, December 27th. Flowserve's payout ratio is currently 41.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FLS shares. TD Cowen increased their target price on Flowserve from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Citigroup lowered their target price on Flowserve from $73.00 to $72.00 and set a "buy" rating for the company in a report on Monday, January 13th. Royal Bank of Canada upgraded Flowserve from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $57.00 to $69.00 in a report on Friday, November 22nd. StockNews.com cut Flowserve from a "strong-buy" rating to a "buy" rating in a report on Friday, December 27th. Finally, The Goldman Sachs Group upgraded Flowserve from a "sell" rating to a "neutral" rating and raised their price objective for the company from $55.00 to $69.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.50.

Flowserve Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.