Franklin Resources Inc. Sells 181,624 Shares of Baker Hughes (NASDAQ:BKR)

Franklin Resources Inc. decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 5.2% in the 3rd quarter, according to the company in its most recent Form 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 about 0.33% of Baker Hughes worth $124,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in Baker Hughes by 0.5% in the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after purchasing an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Baker Hughes by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after purchasing an additional 145,537 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after buying an additional 692,859 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of a number of recent research reports. Wells Fargo & Company raised Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Stifel Nicolaus increased their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Barclays increased their price objective on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets increased their price objective on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $45.12.

Baker Hughes Trading Down 0.4 %

NASDAQ BKR opened at $42.15 on Monday. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The stock has a 50 day simple moving average of $40.55 and a two-hundred day simple moving average of $36.73. The stock has a market cap of $41.71 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s 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.