Franklin Resources Inc. Has $126.11 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Franklin Resources Inc. lessened its position in shares of Baker Hughes (NASDAQ:BKR) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,074,339 shares of the company’s stock after selling 226,751 shares during the quarter. Franklin Resources Inc. owned approximately 0.31% of Baker Hughes worth $126,109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new stake in shares of Baker Hughes during the 4th quarter valued at about $640,000. Burney Co. grew its holdings in Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after purchasing an additional 105,349 shares during the period. Northstar Advisory Group LLC bought a new stake in Baker Hughes in the fourth quarter valued at $1,180,000. Artemis Investment Management LLP raised its holdings in shares of Baker Hughes by 29.4% during the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock valued at $43,233,000 after purchasing an additional 239,773 shares during the period. Finally, Czech National Bank boosted its position in shares of Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after purchasing an additional 12,178 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $44.92 on Thursday. The company has a market capitalization of $44.48 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company’s 50-day moving average is $44.69 and its 200 day moving average is $41.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays dropped their price target on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus increased their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Atb Cap Markets downgraded shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

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.