New York State Common Retirement Fund Cuts Position in Baker Hughes (NASDAQ:BKR)

New York State Common Retirement Fund decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 677,050 shares of the company’s stock after selling 19,877 shares during the period. New York State Common Retirement Fund’s holdings in Baker Hughes were worth $27,773,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Bridges Investment Management Inc. grew its holdings in shares of Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after buying an additional 273 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after buying an additional 295 shares during the last quarter. Graypoint LLC lifted its position in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after purchasing an additional 301 shares during the period. Key Financial Inc lifted its position in Baker Hughes by 16.3% during the fourth quarter. Key Financial Inc now owns 2,676 shares of the company’s stock valued at $110,000 after purchasing an additional 376 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in Baker Hughes by 1.8% during the fourth quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock valued at $861,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BKR. JPMorgan Chase & Co. increased their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America increased their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. TD Cowen lowered their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Barclays increased their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly 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 legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Down 2.7 %

Shares of BKR stock opened at $45.62 on Friday. The company has a market capitalization of $45.17 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.06 and a beta of 1.39. Baker Hughes has a one year low of $28.88 and a one year high of $49.40. The company’s fifty day moving average price is $44.28 and its 200-day moving average price is $40.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. Sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.02%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

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.