Sentry Investment Management LLC Cuts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Sentry Investment Management LLC decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 9.7% in the fourth quarter, HoldingsChannel reports. The firm owned 5,255 shares of the company’s stock after selling 564 shares during the quarter. Sentry Investment Management LLC’s holdings in Baker Hughes were worth $180,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Jefferies Financial Group Inc. purchased a new position in Baker Hughes during the 4th quarter valued at approximately $27,000. Hall Laurie J Trustee bought a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $28,000. Bruce G. Allen Investments LLC purchased a new position in shares of Baker Hughes in the fourth quarter valued at $33,000. OFI Invest Asset Management bought a new stake in Baker Hughes in the third quarter worth $36,000. Finally, Quarry LP raised its stake in Baker Hughes by 41.3% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $36,000 after purchasing an additional 331 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Shares of BKR opened at $32.10 on Wednesday. The business’s 50-day moving average is $31.49 and its two-hundred day moving average is $32.60. The company has a market capitalization of $32.13 billion, a P/E ratio of 16.81, a P/E/G ratio of 0.68 and a beta of 1.42. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

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

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes’s payout ratio is 43.98%.

Wall Street Analyst Weigh In

Several research firms recently commented on BKR. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Susquehanna restated a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Monday, April 8th. Barclays reduced their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Finally, Wolfe Research lowered shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.87.

Insider Activity at Baker Hughes

In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total value of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on 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 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 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.