Baker Hughes (NASDAQ:BKR) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in Baker Hughes (NASDAQ:BKR) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 121,193,715 shares of the company’s stock after selling 347,147 shares during the quarter. Vanguard Group Inc. owned about 0.12% of Baker Hughes worth $4,971,366,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. JFS Wealth Advisors LLC lifted its stake in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after buying an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes during the 4th quarter worth about $30,000. Larson Financial Group LLC grew its stake in Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after purchasing an additional 216 shares during the last quarter. True Wealth Design LLC grew its stake in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the last quarter. Finally, Groupama Asset Managment increased its holdings in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after purchasing an additional 811,711 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $44.60 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a market capitalization of $44.16 billion, a PE ratio of 14.97, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The company has a fifty day moving average of $44.96 and a two-hundred day moving average of $41.50.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. As a group, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BKR. Piper Sandler upped their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Benchmark reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a report on Tuesday, February 11th. Barclays raised their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Stifel Nicolaus upped their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted 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. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

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.