AIA Group Ltd Sells 31,032 Shares of Baker Hughes (NASDAQ:BKR)

AIA Group Ltd trimmed its stake in Baker Hughes (NASDAQ:BKR) by 71.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,318 shares of the company’s stock after selling 31,032 shares during the period. AIA Group Ltd’s holdings in Baker Hughes were worth $505,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after buying an additional 123,172 shares during the last quarter. Norges Bank bought a new position in Baker Hughes in the fourth quarter valued at $829,092,000. Hotchkis & Wiley Capital Management LLC raised its position in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Baker Hughes during the fourth quarter worth about $291,289,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Baker Hughes by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after purchasing an additional 135,200 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BKR has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group upped their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Barclays decreased their target price on shares of Baker Hughes from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus upped their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $51.00.

Baker Hughes Stock Performance

Shares of BKR stock opened at $43.95 on Tuesday. The firm has a market capitalization of $43.52 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.00 and a beta of 1.30. The stock has a fifty day moving average of $44.76 and a 200 day moving average of $41.87. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating 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%. As a group, research analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. Baker Hughes’s dividend payout ratio is 30.87%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

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.