E Fund Management Co. Ltd. Sells 1,088 Shares of Baker Hughes (NASDAQ:BKR)

E Fund Management Co. Ltd. lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 9.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,019 shares of the company’s stock after selling 1,088 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Baker Hughes were worth $342,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in Baker Hughes by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock worth $227,579,000 after buying an additional 204,839 shares during the last quarter. Apollon Wealth Management LLC raised its position in Baker Hughes by 30.5% in the fourth quarter. Apollon Wealth Management LLC now owns 14,082 shares of the company’s stock worth $481,000 after acquiring an additional 3,295 shares during the period. Private Advisor Group LLC raised its position in Baker Hughes by 7.8% in the fourth quarter. Private Advisor Group LLC now owns 11,889 shares of the company’s stock worth $406,000 after acquiring an additional 865 shares during the period. National Bank of Canada FI raised its position in Baker Hughes by 126.9% in the fourth quarter. National Bank of Canada FI now owns 830,755 shares of the company’s stock worth $28,188,000 after acquiring an additional 464,620 shares during the period. Finally, Todd Asset Management LLC bought a new stake in Baker Hughes in the fourth quarter worth about $19,999,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR stock traded up $0.88 during midday trading on Thursday, reaching $32.78. The company had a trading volume of 3,816,980 shares, compared to its average volume of 8,440,834. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. Baker Hughes has a 1 year low of $26.96 and a 1 year high of $37.58. The company has a market capitalization of $32.71 billion, a P/E ratio of 18.31, a P/E/G ratio of 0.55 and a beta of 1.44. The firm has a 50-day moving average price of $32.49 and a 200-day moving average price of $32.36.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the company earned $0.28 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, research analysts anticipate that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Insider Activity

In other Baker Hughes 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 completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Baker Hughes 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 completion of the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, 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.

Analysts Set New Price Targets

Several analysts have commented on BKR shares. UBS Group lifted their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Morgan Stanley lifted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. 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, Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of Baker Hughes in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $40.94.

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.