Baker Hughes Company $BKR Stock Position Trimmed by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC cut its position in Baker Hughes Company (NASDAQ:BKR) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 635,252 shares of the company’s stock after selling 12,155 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Baker Hughes were worth $28,929,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pinion Investment Advisors LLC bought a new stake in Baker Hughes in the 4th quarter valued at about $778,000. Nordea Investment Management AB lifted its position in Baker Hughes by 12.7% in the 4th quarter. Nordea Investment Management AB now owns 2,755,743 shares of the company’s stock valued at $125,813,000 after purchasing an additional 309,996 shares during the last quarter. Legal & General Group Plc lifted its position in Baker Hughes by 5.4% in the 3rd quarter. Legal & General Group Plc now owns 7,147,684 shares of the company’s stock valued at $348,234,000 after purchasing an additional 367,728 shares during the last quarter. Cibc World Market Inc. lifted its position in Baker Hughes by 13.6% in the 3rd quarter. Cibc World Market Inc. now owns 829,816 shares of the company’s stock valued at $40,429,000 after purchasing an additional 99,314 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in shares of Baker Hughes by 10,225.3% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 849,566 shares of the company’s stock worth $41,391,000 after buying an additional 841,338 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $59.04, for a total value of $298,919.52. Following the sale, the insider directly owned 15,555 shares in the company, valued at $918,367.20. The trade was a 24.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lorenzo Simonelli sold 272,594 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the completion of the sale, the chief executive officer owned 866,444 shares in the company, valued at $50,938,242.76. The trade was a 23.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 282,745 shares of company stock worth $16,651,472 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Up 3.6%

NASDAQ BKR opened at $64.84 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.13 and a quick ratio of 1.77. The company’s 50 day simple moving average is $63.96 and its 200 day simple moving average is $57.53. Baker Hughes Company has a 12 month low of $37.38 and a 12 month high of $70.41. The company has a market capitalization of $64.33 billion, a P/E ratio of 20.72, a PEG ratio of 2.23 and a beta of 0.93.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm earned $0.51 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that Baker Hughes Company will post 2.31 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 5th. Baker Hughes’s payout ratio is presently 29.39%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BKR shares. Capital One Financial boosted their price target on shares of Baker Hughes from $66.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Jefferies Financial Group restated a “buy” rating and set a $80.00 price target on shares of Baker Hughes in a research report on Sunday, April 26th. Citigroup dropped their price target on shares of Baker Hughes from $80.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $60.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, TD Cowen boosted their price target on shares of Baker Hughes from $64.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Eighteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $69.14.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.