Franklin Resources Inc. Sells 226,751 Shares of Baker Hughes (NASDAQ:BKR)

Franklin Resources Inc. reduced its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,074,339 shares of the company's stock after selling 226,751 shares during the quarter. Franklin Resources Inc. owned 0.31% of Baker Hughes worth $126,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKR. Dynasty Wealth Management LLC boosted its holdings in shares of Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after purchasing an additional 207 shares in the last quarter. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after acquiring an additional 216 shares during the last quarter. Alpine Woods Capital Investors LLC raised its stake in Baker Hughes by 0.7% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock worth $1,660,000 after acquiring an additional 267 shares in the last quarter. Cromwell Holdings LLC boosted its stake in shares of Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company's stock valued at $130,000 after purchasing an additional 269 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its position in shares of Baker Hughes by 1.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock worth $923,000 after buying an additional 295 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Remove Ads

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.31 on Monday, reaching $35.10. The stock had a trading volume of 6,802,853 shares, compared to its average volume of 6,695,182. The business's 50 day moving average is $44.40 and its two-hundred day moving average is $42.07. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The company has a market cap of $34.75 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.62%. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is currently 30.87%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Atb Cap Markets lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Bank of America upped their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. TD Cowen decreased their price target on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Benchmark reiterated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus raised their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.25% of the company's stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.