Truist Financial Corp Trims Holdings in Baker Hughes (NASDAQ:BKR)

Truist Financial Corp trimmed its position in Baker Hughes (NASDAQ:BKR) by 0.6% in the 4th quarter, HoldingsChannel reports. The firm owned 351,018 shares of the company’s stock after selling 2,063 shares during the quarter. Truist Financial Corp’s holdings in Baker Hughes were worth $14,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of BKR. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after purchasing an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new stake in Baker Hughes during the fourth quarter worth about $107,155,000. Yaupon Capital Management LP acquired a new stake in Baker Hughes during the third quarter worth about $47,296,000. Eagle Asset Management Inc. grew its holdings in Baker Hughes by 18.6% during the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Baker Hughes by 436.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after acquiring an additional 817,227 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BKR has been the topic of several analyst reports. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. 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 report on Thursday, January 23rd. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Evercore ISI raised their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Stock Performance

NASDAQ BKR opened at $46.91 on Friday. The company has a market cap of $46.45 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. The stock’s 50 day simple moving average is $44.21 and its 200-day simple moving average is $40.09. Baker Hughes has a 1-year low of $28.88 and a 1-year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.96%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

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.