Empowered Funds LLC Sells 181,140 Shares of Baker Hughes (NASDAQ:BKR)

Empowered Funds LLC reduced its holdings in shares of Baker Hughes (NASDAQ:BKR) by 68.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 84,688 shares of the company’s stock after selling 181,140 shares during the quarter. Empowered Funds LLC’s holdings in Baker Hughes were worth $3,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Apollon Wealth Management LLC lifted its holdings in Baker Hughes by 13.5% during the fourth quarter. Apollon Wealth Management LLC now owns 27,058 shares of the company’s stock worth $1,110,000 after acquiring an additional 3,227 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Baker Hughes by 2.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 110,092 shares of the company’s stock valued at $4,516,000 after buying an additional 2,685 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Baker Hughes in the fourth quarter valued at $640,000. Bleakley Financial Group LLC raised 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 during the period. Finally, Massachusetts Wealth Management raised its stake in shares of Baker Hughes by 230.3% in the fourth quarter. Massachusetts Wealth Management now owns 29,475 shares of the company’s stock valued at $1,209,000 after buying an additional 20,550 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the 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 completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $46.41 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $45.92 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. The business’s 50-day moving average price is $43.56 and its 200-day moving average price is $39.68. Baker Hughes has a 12 month low of $28.63 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.98%. Baker Hughes’s dividend payout ratio is currently 28.19%.

Analyst Upgrades and Downgrades

BKR has been the topic of several research reports. Benchmark restated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday. Stifel Nicolaus boosted their target price on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. The Goldman Sachs Group boosted their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Susquehanna boosted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Company 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.