State of Michigan Retirement System Sells 1,300 Shares of Baker Hughes (NASDAQ:BKR)

State of Michigan Retirement System reduced its position in shares of Baker Hughes (NASDAQ:BKRFree Report) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,512 shares of the company’s stock after selling 1,300 shares during the quarter. State of Michigan Retirement System’s holdings in Baker Hughes were worth $9,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKR. Jefferies Financial Group Inc. bought a new stake in Baker Hughes during the fourth quarter worth $27,000. Hall Laurie J Trustee acquired a new position in shares of Baker Hughes in the third quarter valued at $28,000. Bruce G. Allen Investments LLC acquired a new position in shares of Baker Hughes in the fourth quarter valued at $33,000. OFI Invest Asset Management acquired a new position in shares of Baker Hughes in the third quarter valued at $36,000. Finally, Quarry LP increased its holdings in shares of Baker Hughes by 41.3% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after purchasing an additional 331 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. TD Cowen upped their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Barclays decreased their price target on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada restated an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. Finally, Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

View Our Latest Analysis on Baker Hughes

Baker Hughes Trading Up 0.9 %

Shares of Baker Hughes stock opened at $33.88 on Thursday. The company has a market capitalization of $33.91 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.69 and a beta of 1.42. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The firm’s 50-day moving average price is $30.73 and its two-hundred day moving average price is $32.77.

Baker Hughes (NASDAQ:BKRGet Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts forecast that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio is 43.98%.

Insider Transactions at Baker Hughes

In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Baker Hughes Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Baker Hughes (NASDAQ:BKR)

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