Guggenheim Capital LLC Sells 5,913 Shares of Baker Hughes (NASDAQ:BKR)

Guggenheim Capital LLC reduced its holdings in Baker Hughes (NASDAQ:BKR) by 2.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 292,094 shares of the company’s stock after selling 5,913 shares during the quarter. Guggenheim Capital LLC’s holdings in Baker Hughes were worth $11,982,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Morse Asset Management Inc purchased a new position in shares of Baker Hughes during the third quarter valued at about $1,263,000. MML Investors Services LLC boosted its position in Baker Hughes by 14.6% during the 3rd quarter. MML Investors Services LLC now owns 17,340 shares of the company’s stock valued at $627,000 after acquiring an additional 2,214 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Baker Hughes by 92.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 87,961 shares of the company’s stock worth $3,180,000 after acquiring an additional 42,148 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Baker Hughes in the 3rd quarter worth approximately $139,000. Finally, Birmingham Capital Management Co. Inc. AL lifted its stake in shares of Baker Hughes by 18.5% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company’s stock valued at $578,000 after purchasing an additional 2,500 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

BKR opened at $38.16 on Wednesday. The company’s 50-day simple moving average is $42.83 and its two-hundred day simple moving average is $42.06. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The stock has a market capitalization of $37.78 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.00 and a beta of 1.08. 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 (NASDAQ:BKR) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts predict that Baker Hughes will post 2.59 EPS for the current 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 issued a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.41%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is presently 30.87%.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BKR. Evercore ISI upped their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Piper Sandler upped their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Benchmark reiterated a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research note on Tuesday, February 11th. Stifel Nicolaus dropped their price objective on shares of Baker Hughes from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Susquehanna decreased their target price on shares of Baker Hughes from $55.00 to $48.00 and set a “positive” rating for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.65.

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.