Mutual of America Capital Management LLC Trims Stake in Baker Hughes (NASDAQ:BKR)

Mutual of America Capital Management LLC reduced its position in shares of Baker Hughes (NASDAQ:BKR) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,332 shares of the company’s stock after selling 6,842 shares during the period. Mutual of America Capital Management LLC’s holdings in Baker Hughes were worth $12,115,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC grew its position in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. purchased a new position in Baker Hughes in the fourth quarter worth $107,155,000. Yaupon Capital Management LP purchased a new position in Baker Hughes in the third quarter worth $47,296,000. Eagle Asset Management Inc. grew its position in Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock worth $198,326,000 after acquiring an additional 860,219 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Baker Hughes by 436.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after acquiring an additional 817,227 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Susquehanna upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Piper Sandler upped their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Evercore ISI upped their price target on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Price Performance

BKR stock opened at $44.59 on Friday. Baker Hughes has a 1 year low of $29.30 and a 1 year high of $49.40. The company has a market cap of $44.15 billion, a P/E ratio of 14.96, a PEG ratio of 2.00 and a beta of 1.39. The firm has a 50-day moving average of $44.62 and a 200 day moving average of $40.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. This is an increase 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%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares in the company, valued at approximately $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 can be accessed through this link. 0.25% of the stock is owned by insiders.

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.