Livforsakringsbolaget Skandia Omsesidigt Grows Position in Baker Hughes (NASDAQ:BKR)

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Baker Hughes (NASDAQ:BKR) by 109.9% in the fourth quarter, Holdings Channel reports. The fund owned 3,130 shares of the company’s stock after purchasing an additional 1,639 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Baker Hughes were worth $107,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Baker Hughes by 0.5% in the first quarter. State Street Corp now owns 67,473,141 shares of the company’s stock worth $1,947,274,000 after acquiring an additional 365,013 shares during the period. Geode Capital Management LLC lifted its position in shares of Baker Hughes by 2.4% during the first quarter. Geode Capital Management LLC now owns 21,391,034 shares of the company’s stock valued at $615,984,000 after buying an additional 495,677 shares during the last quarter. FMR LLC lifted its position in shares of Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after buying an additional 2,316,638 shares during the last quarter. Northern Trust Corp lifted its position in shares of Baker Hughes by 4.0% during the third quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock valued at $346,729,000 after buying an additional 379,385 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Baker Hughes by 8.6% during the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock valued at $333,627,000 after buying an additional 745,511 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $32.20 on Friday. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The company’s 50 day moving average is $31.61 and its 200 day moving average is $32.59. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The company has a market cap of $32.23 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The company 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 company earned $0.38 EPS. Baker Hughes’s quarterly revenue was up 15.7% on a year-over-year basis. On average, sell-side analysts forecast that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, February 12th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.61%. Baker Hughes’s dividend payout ratio is 43.98%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

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.