Baker Hughes (NASDAQ:BKR) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of Baker Hughes (NASDAQ:BKR) by 25.5% during the fourth quarter, HoldingsChannel reports. The firm owned 413,552 shares of the company’s stock after selling 141,713 shares during the period. Truist Financial Corp’s holdings in Baker Hughes were worth $14,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Baker Hughes by 15.5% in the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company’s stock valued at $85,000 after buying an additional 327 shares during the last quarter. Rational Advisors LLC grew its stake in Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Baker Hughes by 6.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company’s stock worth $219,000 after purchasing an additional 398 shares during the last quarter. Huntington National Bank raised its position in shares of Baker Hughes by 8.2% in the 3rd quarter. Huntington National Bank now owns 5,501 shares of the company’s stock valued at $194,000 after purchasing an additional 416 shares in the last quarter. Finally, Blair William & Co. IL grew its position in shares of Baker Hughes by 2.8% during the third quarter. Blair William & Co. IL now owns 15,086 shares of the company’s stock worth $533,000 after buying an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 2.2 %

Baker Hughes stock opened at $31.89 on Thursday. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $31.92 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.63 and a beta of 1.42. The firm has a 50-day moving average price of $32.25 and a two-hundred day moving average price of $32.48.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BKR shares. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a report on Wednesday, April 24th. Citigroup lowered their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 26th. Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. TD Cowen boosted their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Barclays reduced their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

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.