Brandywine Global Investment Management LLC Purchases 129,551 Shares of Baker Hughes (NASDAQ:BKR)

Brandywine Global Investment Management LLC grew its position in Baker Hughes (NASDAQ:BKR) by 28.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 587,789 shares of the company’s stock after buying an additional 129,551 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Baker Hughes were worth $24,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. RWA Wealth Partners LLC bought a new stake in shares of Baker Hughes in the fourth quarter worth $877,000. Allianz SE bought a new position in Baker Hughes in the fourth quarter valued at $1,726,000. Transamerica Financial Advisors Inc. acquired a new stake in Baker Hughes in the 4th quarter valued at $4,129,000. Allstate Corp bought a new stake in Baker Hughes during the 4th quarter worth about $1,209,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Baker Hughes by 326.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,824 shares of the company’s stock worth $75,000 after buying an additional 1,396 shares during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Down 1.3 %

Baker Hughes stock opened at $43.08 on Monday. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock has a market cap of $42.65 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.00 and a beta of 1.30. The company’s 50-day moving average price is $44.81 and its two-hundred day moving average price is $41.79. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. As a group, analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is presently 30.87%.

Analysts Set New Price Targets

A number of research firms recently issued reports on BKR. Wells Fargo & Company lifted their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays upped their price objective on Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Susquehanna upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

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.