TechnipFMC plc (NYSE:FTI) Shares Sold by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC lowered its position in TechnipFMC plc (NYSE:FTI - Free Report) by 94.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,222 shares of the oil and gas company's stock after selling 378,332 shares during the quarter. Sierra Summit Advisors LLC's holdings in TechnipFMC were worth $643,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FTI. Franklin Resources Inc. grew its holdings in TechnipFMC by 23.0% during 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 in the last quarter. Avantax Advisory Services Inc. increased its holdings in TechnipFMC by 24.5% during 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 period. Park Avenue Securities LLC bought a new position in TechnipFMC in the fourth quarter worth approximately $519,000. Raymond James Financial Inc. purchased a new stake in TechnipFMC during the fourth quarter worth $9,152,000. Finally, Charles Schwab Investment Management Inc. boosted its position in TechnipFMC by 7.3% during the 4th 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 acquiring an additional 249,719 shares in the last quarter. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

TechnipFMC Stock Performance

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

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TechnipFMC Dividend Announcement

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

Insider Activity at TechnipFMC

In other news, CAO David Light sold 10,147 shares of TechnipFMC 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carvalho Filho Eleazar De sold 9,381 shares of the 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 sale, the director now directly owns 100,951 shares in the company, valued at $3,004,301.76. This trade represents a 8.50 % 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 worth $1,651,665. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FTI has been the subject of a number of analyst reports. StockNews.com cut TechnipFMC from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Barclays raised their price target on shares of 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 initiated coverage on shares of TechnipFMC in a research report on Friday, December 13th. They set a "buy" rating and a $38.00 target price for the company. Piper Sandler lifted their price target on shares of TechnipFMC from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, Evercore ISI increased their price objective on TechnipFMC from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.31.

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.