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

Franklin Resources Inc. cut its position in Baker Hughes (NASDAQ:BKR) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,074,339 shares of the company’s stock after selling 226,751 shares during the quarter. Franklin Resources Inc.’s holdings in Baker Hughes were worth $126,109,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes during the fourth quarter valued at approximately $30,000. Larson Financial Group LLC grew its holdings in shares of Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Finally, Kestra Investment Management LLC bought a new stake in Baker Hughes during the 4th quarter valued at $45,000. 92.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’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 owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Stock Performance

Shares of BKR opened at $44.92 on Thursday. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The business’s fifty day simple moving average is $44.69 and its two-hundred day simple moving average is $41.97. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a market cap of $44.48 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is 30.87%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BKR shares. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stifel Nicolaus boosted their target price on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Susquehanna lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.00.

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.