Baker Hughes (NASDAQ:BKR) Stock Position Lessened by Greenleaf Trust

Greenleaf Trust decreased its holdings in Baker Hughes (NASDAQ:BKR) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,036 shares of the company’s stock after selling 692 shares during the quarter. Greenleaf Trust’s holdings in Baker Hughes were worth $514,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in shares of Baker Hughes in the fourth quarter worth $4,813,000. Nordea Investment Management AB grew its stake in shares of Baker Hughes by 731.1% in the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after purchasing an additional 1,283,296 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Baker Hughes by 12.0% in the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after purchasing an additional 97,108 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Baker Hughes by 8.7% in the fourth quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock worth $106,365,000 after purchasing an additional 248,125 shares in the last quarter. Finally, DDD Partners LLC bought a new position in shares of Baker Hughes in the fourth quarter worth $11,054,000. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Baker Hughes Trading Down 0.4 %

NASDAQ:BKR opened at $32.46 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58. The firm has a market capitalization of $32.49 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The stock has a fifty day simple moving average of $31.74 and a 200 day simple moving average of $32.56.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.04. The firm had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. Sell-side analysts forecast that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a $0.21 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.59%. The ex-dividend date was Monday, February 12th. Baker Hughes’s dividend payout ratio is currently 43.98%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research note on Thursday, February 1st. Susquehanna reaffirmed a “positive” rating and set a $40.00 target price on shares of Baker Hughes in a research note on Monday, April 8th. Barclays decreased their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. TD Cowen raised their target price on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Citigroup decreased their target price on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.07.

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.