Baker Hughes Company (NASDAQ:BKR) Shares Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC grew its holdings in Baker Hughes Company (NASDAQ:BKR) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 599,041 shares of the company’s stock after purchasing an additional 11,252 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.06% of Baker Hughes worth $26,328,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Rockefeller Capital Management L.P. boosted its position in Baker Hughes by 20.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 37,591 shares of the company’s stock worth $1,538,000 after acquiring an additional 6,375 shares during the last quarter. Townsquare Capital LLC boosted its position in Baker Hughes by 8.3% during the fourth quarter. Townsquare Capital LLC now owns 23,345 shares of the company’s stock worth $958,000 after acquiring an additional 1,794 shares during the last quarter. XTX Topco Ltd acquired a new stake in Baker Hughes during the fourth quarter worth approximately $574,000. Jump Financial LLC boosted its position in Baker Hughes by 71.0% during the fourth quarter. Jump Financial LLC now owns 14,509 shares of the company’s stock worth $595,000 after acquiring an additional 6,026 shares during the last quarter. Finally, United Capital Financial Advisors LLC boosted its position in Baker Hughes by 4.2% during the fourth quarter. United Capital Financial Advisors LLC now owns 19,043 shares of the company’s stock worth $781,000 after acquiring an additional 772 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 526,568 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $44.42, for a total value of $23,390,150.56. Following the transaction, the chief executive officer owned 667,593 shares of the company’s stock, valued at approximately $29,654,481.06. This trade represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BKR. Seaport Res Ptn lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Piper Sandler decreased their target price on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Barclays raised their target price on shares of Baker Hughes from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. The Goldman Sachs Group cut their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada cut their price target on shares of Baker Hughes from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

Baker Hughes Stock Performance

Shares of BKR stock opened at $42.80 on Friday. The company’s fifty day simple moving average is $40.90 and its 200-day simple moving average is $40.84. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The company has a market cap of $42.20 billion, a PE ratio of 13.99, a P/E/G ratio of 1.97 and a beta of 0.94.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, July 22nd. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. Baker Hughes had a net margin of 11.04% and a return on equity of 14.56%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.64 billion. During the same quarter last year, the firm posted $0.57 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 5th. Baker Hughes’s dividend payout ratio (DPR) is currently 30.07%.

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.