Baker Hughes (NASDAQ:BKR) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its stake in shares of Baker Hughes (NASDAQ:BKR) by 61.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,707,639 shares of the company’s stock after selling 4,296,179 shares during the quarter. Clearbridge Investments LLC owned about 0.27% of Baker Hughes worth $111,067,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brandywine Global Investment Management LLC grew its holdings in shares of Baker Hughes by 28.3% during the fourth quarter. Brandywine Global Investment Management LLC now owns 587,789 shares of the company’s stock worth $24,111,000 after buying an additional 129,551 shares in the last quarter. RWA Wealth Partners LLC acquired a new stake in Baker Hughes during the fourth quarter worth approximately $877,000. Allianz SE acquired a new stake in Baker Hughes during the fourth quarter worth approximately $1,726,000. Transamerica Financial Advisors Inc. purchased a new stake in Baker Hughes in the 4th quarter worth approximately $4,129,000. Finally, Allstate Corp acquired a new position in Baker Hughes in the 4th quarter valued at $1,209,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.0 %

Shares of BKR opened at $43.95 on Tuesday. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The stock’s 50-day moving average is $44.76 and its two-hundred day moving average is $41.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market cap of $43.52 billion, a PE ratio of 14.75, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. Equities analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s payout ratio is presently 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BKR shares. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Evercore ISI lifted their price target on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Stifel Nicolaus upped their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. 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. Finally, TD Cowen dropped their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.