Baker Hughes (NASDAQ:BKR) Position Reduced by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 2.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 210,403 shares of the company’s stock after selling 5,856 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Baker Hughes were worth $8,631,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BKR. Raymond James Financial Inc. acquired a new position in Baker Hughes during the 4th quarter worth $291,289,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. acquired a new position in Baker Hughes during the 4th quarter worth $107,155,000. Yaupon Capital Management LP acquired a new position in Baker Hughes during the 3rd quarter worth $47,296,000. Finally, Natixis Advisors LLC grew its holdings in Baker Hughes by 217.5% during the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after acquiring an additional 1,184,036 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKR has been the subject of several recent analyst reports. Evercore ISI raised their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Piper Sandler raised their price target 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. Wells Fargo & Company raised their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Benchmark restated a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Bank of America raised their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Down 1.3 %

BKR stock opened at $44.11 on Friday. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a market capitalization of $43.67 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The firm’s 50-day moving average is $44.97 and its two-hundred day moving average is $41.32. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released 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 net margin of 10.70% and a return on equity of 14.58%. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Insider Transactions at Baker Hughes

In other 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 value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes 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.