Baker Hughes (NASDAQ:BKR) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its stake in shares of Baker Hughes (NASDAQ:BKR) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,296 shares of the company’s stock after selling 3,797 shares during the period. Maryland State Retirement & Pension System’s holdings in Baker Hughes were worth $2,186,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its holdings in Baker Hughes by 90.4% in the third quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company’s stock worth $16,183,000 after acquiring an additional 212,520 shares during the last quarter. Quest Partners LLC lifted its holdings in Baker Hughes by 446,900.0% in the third quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock worth $162,000 after acquiring an additional 4,469 shares during the last quarter. Caprock Group LLC lifted its holdings in Baker Hughes by 11.4% in the third quarter. Caprock Group LLC now owns 33,955 shares of the company’s stock worth $1,227,000 after acquiring an additional 3,475 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Baker Hughes by 13.0% in the third quarter. PNC Financial Services Group Inc. now owns 134,735 shares of the company’s stock worth $4,871,000 after acquiring an additional 15,477 shares during the last quarter. Finally, Commerce Bank lifted its holdings in Baker Hughes by 3.1% in the third quarter. Commerce Bank now owns 30,775 shares of the company’s stock worth $1,113,000 after acquiring an additional 921 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price target on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. The Goldman Sachs Group raised 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. Finally, Wells Fargo & Company upped their price target on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $44.69 on Friday. The company’s fifty day moving average is $44.95 and its two-hundred day moving average is $41.26. 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 has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a market cap of $44.25 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities analysts expect 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. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.06%. Baker Hughes’s dividend payout ratio is currently 30.87%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.