Chevy Chase Trust Holdings LLC Trims Position in Baker Hughes (NASDAQ:BKR)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Baker Hughes (NASDAQ:BKR) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 519,259 shares of the company’s stock after selling 13,397 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Baker Hughes were worth $21,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service increased its holdings in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after buying an additional 81,625 shares during the last quarter. Burney Co. increased its holdings in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after buying an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC acquired a new stake in shares of Baker Hughes during the 4th quarter worth $1,180,000. Artemis Investment Management LLP increased its holdings in shares of Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after buying an additional 239,773 shares during the last quarter. Finally, Czech National Bank increased its holdings in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after purchasing an additional 12,178 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Stock Up 0.5 %

NASDAQ:BKR opened at $46.40 on Friday. The company has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. Baker Hughes has a one year low of $28.66 and a one year high of $49.40. The stock has a 50-day simple moving average of $43.81 and a 200 day simple moving average of $39.83. 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 posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts predict that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. 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. Baker Hughes’s dividend payout ratio (DPR) is 28.19%.

Insider Buying and Selling

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 stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup raised their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Barclays raised their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group raised their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.06.

About Baker Hughes

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.