Clearbridge Investments LLC Grows Stock Holdings in Baker Hughes (NASDAQ:BKR)

Clearbridge Investments LLC grew its stake in Baker Hughes (NASDAQ:BKR) by 10.2% in the first quarter, Holdings Channel.com reports. The firm owned 6,609,115 shares of the company’s stock after acquiring an additional 612,715 shares during the quarter. Clearbridge Investments LLC’s holdings in Baker Hughes were worth $221,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BKR. Norges Bank acquired a new position in Baker Hughes during the fourth quarter worth $551,555,000. Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock worth $296,319,000 after acquiring an additional 1,395,083 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Baker Hughes by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after acquiring an additional 204,839 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Baker Hughes by 47.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,635,875 shares of the company’s stock valued at $192,634,000 after purchasing an additional 1,822,487 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Baker Hughes by 1.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,519,437 shares of the company’s stock worth $184,901,000 after purchasing an additional 64,448 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Maria C. Borras sold 55,980 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total transaction of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 0.0 %

NASDAQ:BKR traded down $0.01 on Tuesday, reaching $35.65. 3,989,176 shares of the company’s stock were exchanged, compared to its average volume of 7,564,414. The firm has a market capitalization of $35.58 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 0.62 and a beta of 1.41. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $33.46 and a 200-day moving average of $32.16.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, analysts expect that Baker Hughes will post 2.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BKR has been the subject of several analyst reports. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. UBS Group raised their target price on Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Wednesday, April 24th. Morgan Stanley raised their price objective on Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Finally, Jefferies Financial Group upped their target price on shares of Baker Hughes from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.92.

Baker Hughes 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.