Franklin Resources Inc. Decreases Stock Holdings in Baker Hughes (NASDAQ:BKR)

Franklin Resources Inc. cut its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,301,090 shares of the company's stock after selling 181,624 shares during the quarter. Franklin Resources Inc. owned 0.33% of Baker Hughes worth $124,236,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Baker Hughes in the 3rd quarter valued at $139,000. Sanctuary Advisors LLC boosted its holdings in Baker Hughes by 92.0% during the third quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company's stock worth $3,180,000 after purchasing an additional 42,148 shares during the last quarter. Hohimer Wealth Management LLC increased its holdings in Baker Hughes by 3.4% during the third quarter. Hohimer Wealth Management LLC now owns 32,326 shares of the company's stock worth $1,169,000 after buying an additional 1,053 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Baker Hughes by 69.7% during the 3rd quarter. Toronto Dominion Bank now owns 527,501 shares of the company's stock worth $19,069,000 after buying an additional 216,613 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Baker Hughes by 16.3% in the third quarter. Coldstream Capital Management Inc. now owns 12,824 shares of the company's stock worth $476,000 after purchasing an additional 1,793 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on BKR. Barclays raised their price target on shares of Baker Hughes from $41.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Wells Fargo & Company upgraded Baker Hughes from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Susquehanna upped their target price on Baker Hughes from $46.00 to $48.00 and gave the company a "positive" rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.12.

Baker Hughes Trading Down 0.8 %

Shares of NASDAQ:BKR traded down $0.35 on Monday, hitting $41.80. The company had a trading volume of 4,289,981 shares, compared to its average volume of 7,124,057. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The firm's 50-day simple moving average is $40.55 and its two-hundred day simple moving average is $36.73. The firm has a market capitalization of $41.36 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analysts' expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. Equities analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes's dividend payout ratio is presently 37.67%.

About Baker Hughes

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.