Sound Shore Management Inc. CT Sells 379,002 Shares of Baker Hughes (NASDAQ:BKR)

Sound Shore Management Inc. CT decreased its position in Baker Hughes (NASDAQ:BKR) by 19.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,578,824 shares of the company’s stock after selling 379,002 shares during the quarter. Sound Shore Management Inc. CT owned 0.16% of Baker Hughes worth $64,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Angeles Investment Advisors LLC increased its stake in Baker Hughes by 2.5% in the 4th quarter. Angeles Investment Advisors LLC now owns 14,830 shares of the company’s stock worth $608,000 after acquiring an additional 368 shares during the last quarter. Congress Wealth Management LLC DE bought a new stake in Baker Hughes in the 4th quarter worth approximately $13,804,000. LPL Financial LLC increased its stake in Baker Hughes by 57.7% in the 4th quarter. LPL Financial LLC now owns 289,414 shares of the company’s stock worth $11,872,000 after acquiring an additional 105,878 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Baker Hughes in the 4th quarter worth approximately $15,424,000. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Baker Hughes by 55.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 16,709 shares of the company’s stock worth $685,000 after purchasing an additional 5,970 shares during the period. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. TD Cowen dropped their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Bank of America lifted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Susquehanna lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Finally, Evercore ISI boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.06.

Baker Hughes Price Performance

Shares of BKR stock opened at $44.11 on Monday. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock has a market capitalization of $43.67 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. The stock has a fifty day simple moving average of $44.97 and a two-hundred day simple moving average of $41.42. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is presently 30.87%.

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.