Franklin Resources Inc. Grows Position in Baker Hughes (NASDAQ:BKR)

Franklin Resources Inc. raised its position in shares of Baker Hughes (NASDAQ:BKR) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,263,190 shares of the company’s stock after buying an additional 402,630 shares during the quarter. Franklin Resources Inc.’s holdings in Baker Hughes were worth $145,716,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BKR. Assetmark Inc. boosted its holdings in shares of Baker Hughes by 6.4% in the 4th quarter. Assetmark Inc. now owns 16,249 shares of the company’s stock worth $555,000 after purchasing an additional 983 shares during the period. BNP Paribas Asset Management Holding S.A. boosted its holdings in shares of Baker Hughes by 6.6% in the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 2,808,842 shares of the company’s stock worth $96,006,000 after purchasing an additional 174,226 shares during the period. Quest Partners LLC purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $1,140,000. Trexquant Investment LP boosted its holdings in shares of Baker Hughes by 21.3% in the 4th quarter. Trexquant Investment LP now owns 264,503 shares of the company’s stock worth $9,041,000 after purchasing an additional 46,443 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Baker Hughes by 255.9% in the 4th quarter. Corient Private Wealth LLC now owns 332,623 shares of the company’s stock worth $11,369,000 after purchasing an additional 239,160 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 0.6 %

Shares of NASDAQ BKR opened at $32.27 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $32.93 and a two-hundred day simple moving average of $32.22. The firm has a market cap of $32.21 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 0.57 and a beta of 1.44. Baker Hughes has a twelve month low of $26.96 and a twelve month high of $37.58.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. Analysts expect that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their target price on Baker Hughes from $40.00 to $43.00 in a report on Tuesday, April 23rd. UBS Group raised their price target on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. TD Cowen raised their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $40.94.

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.