Baker Hughes (NASDAQ:BKR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Baker Hughes (NASDAQ:BKR) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,851,302 shares of the company’s stock after selling 60,471 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Baker Hughes worth $63,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its position in Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after acquiring an additional 2,316,638 shares during the period. Northern Trust Corp increased its position in Baker Hughes by 4.0% in the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock valued at $346,729,000 after acquiring an additional 379,385 shares during the period. Morgan Stanley increased its position in Baker Hughes by 8.6% in the 3rd quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock valued at $333,627,000 after acquiring an additional 745,511 shares during the period. Invesco Ltd. increased its position in Baker Hughes by 11.5% in the 3rd quarter. Invesco Ltd. now owns 8,044,420 shares of the company’s stock valued at $284,129,000 after acquiring an additional 829,245 shares during the period. Finally, Van ECK Associates Corp increased its position in Baker Hughes by 2.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,214,165 shares of the company’s stock valued at $254,804,000 after acquiring an additional 170,140 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

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 stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

BKR opened at $33.30 on Friday. The stock has a fifty day moving average of $31.97 and a 200-day moving average of $32.56. The firm has a market capitalization of $33.33 billion, a P/E ratio of 18.60, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a 12-month low of $26.81 and a 12-month high of $37.58. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.45% and a net margin of 6.95%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. Equities analysts forecast that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.52%. Baker Hughes’s dividend payout ratio is 46.93%.

Analyst Ratings Changes

Several analysts recently commented on the company. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Wednesday. The Goldman Sachs Group raised their target price on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Morgan Stanley increased their price target on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Finally, TD Cowen increased their price target on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $40.94.

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.