Baker Hughes (NASDAQ:BKR) Position Lessened by Palouse Capital Management Inc.

Palouse Capital Management Inc. lowered its position in shares of Baker Hughes (NASDAQ:BKR) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,782 shares of the company’s stock after selling 1,798 shares during the quarter. Baker Hughes comprises 2.8% of Palouse Capital Management Inc.’s portfolio, making the stock its 6th largest position. Palouse Capital Management Inc.’s holdings in Baker Hughes were worth $4,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Exchange Traded Concepts LLC grew its holdings in Baker Hughes by 93.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,522 shares of the company’s stock worth $706,000 after buying an additional 9,440 shares in the last quarter. Creative Planning increased its stake in shares of Baker Hughes by 12.3% in the third quarter. Creative Planning now owns 69,572 shares of the company’s stock worth $2,515,000 after acquiring an additional 7,596 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Baker Hughes in the third quarter worth $294,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Baker Hughes by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 107,407 shares of the company’s stock worth $3,883,000 after buying an additional 944 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in Baker Hughes by 7.8% during the third quarter. V Square Quantitative Management LLC now owns 21,834 shares of the company’s stock worth $789,000 after buying an additional 1,588 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BKR. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Susquehanna raised their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group raised their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Trading Up 0.5 %

NASDAQ:BKR opened at $46.40 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. The firm has a fifty day simple moving average of $43.81 and a two-hundred day simple moving average of $39.83. Baker Hughes has a 12 month low of $28.66 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last released 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%. Analysts expect that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.98%. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Insider Transactions at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred 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 in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.