Baker Hughes (NASDAQ:BKR) Position Decreased by State of Michigan Retirement System

State of Michigan Retirement System reduced its holdings in Baker Hughes (NASDAQ:BKR) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 268,612 shares of the company’s stock after selling 1,900 shares during the period. State of Michigan Retirement System’s holdings in Baker Hughes were worth $11,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BKR. Schechter Investment Advisors LLC bought a new position in shares of Baker Hughes in the fourth quarter valued at $253,000. Fidelis Capital Partners LLC acquired a new position in shares of Baker Hughes in the 4th quarter worth $175,000. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes during the fourth quarter worth $30,000. Jones Financial Companies Lllp lifted its holdings in shares of Baker Hughes by 144.6% during the fourth quarter. Jones Financial Companies Lllp now owns 9,069 shares of the company’s stock valued at $372,000 after purchasing an additional 5,362 shares during the last quarter. Finally, Norden Group LLC boosted its position in shares of Baker Hughes by 10.7% in the 4th quarter. Norden Group LLC now owns 7,693 shares of the company’s stock valued at $316,000 after purchasing an additional 745 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Trading Down 1.3 %

NASDAQ:BKR opened at $42.32 on Thursday. The company has a market capitalization of $41.90 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.00 and a beta of 1.30. The stock’s 50 day moving average price is $44.76 and its 200 day moving average price is $40.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 52 week low of $30.41 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group boosted their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays raised their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Evercore ISI boosted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Finally, 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 research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average 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.