Baker Hughes (NASDAQ:BKR) Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC cut its position in shares of Baker Hughes (NASDAQ:BKR) by 54.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,821 shares of the company’s stock after selling 2,177 shares during the quarter. Venturi Wealth Management LLC’s holdings in Baker Hughes were worth $75,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. grew its stake in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after buying an additional 273 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in shares of Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after buying an additional 295 shares in the last quarter. Graypoint LLC grew its stake in shares of Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after buying an additional 301 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Baker Hughes by 1.8% in the fourth quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock valued at $861,000 after buying an additional 380 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after buying an additional 386 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Evercore ISI raised their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Citigroup raised their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group raised their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 2.2 %

NASDAQ:BKR opened at $44.62 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $44.33 and its two-hundred day moving average is $40.31. Baker Hughes has a 52 week low of $29.19 and a 52 week high of $49.40. The company has a market cap of $44.18 billion, a PE ratio of 14.97, a P/E/G ratio of 2.06 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) 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%. On average, analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. Baker Hughes’s dividend payout ratio (DPR) is 30.87%.

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.