Plato Investment Management Ltd Reduces Stock Position in Baker Hughes (NASDAQ:BKR)

Plato Investment Management Ltd trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,487 shares of the company’s stock after selling 29,159 shares during the quarter. Plato Investment Management Ltd’s holdings in Baker Hughes were worth $4,013,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. JFS Wealth Advisors LLC raised its position in Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Baker Hughes in the 4th quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new position in shares of Baker Hughes during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the period. Finally, Continuum Advisory LLC lifted its position in Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $44.59 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average price is $44.62 and its 200-day moving average price is $40.57. The firm has a market cap of $44.15 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.00 and a beta of 1.39. Baker Hughes has a 12 month low of $29.30 and a 12 month high of $49.40.

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%. On average, equities research analysts expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business 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. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 30.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America boosted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Susquehanna raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Jefferies Financial Group boosted their target price on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Stifel Nicolaus increased their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

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.