Gulf International Bank UK Ltd Trims Stake in Baker Hughes (NASDAQ:BKR)

Gulf International Bank UK Ltd cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,179 shares of the company’s stock after selling 817 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Baker Hughes were worth $3,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NewEdge Wealth LLC purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $2,584,000. Pointe Capital Management LLC lifted its stake in Baker Hughes by 8.0% during the fourth quarter. Pointe Capital Management LLC now owns 29,486 shares of the company’s stock worth $1,210,000 after purchasing an additional 2,176 shares in the last quarter. Sabal Trust CO boosted its position in shares of Baker Hughes by 15.0% during the fourth quarter. Sabal Trust CO now owns 32,891 shares of the company’s stock worth $1,349,000 after buying an additional 4,285 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of Baker Hughes by 10.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 7,195 shares of the company’s stock valued at $295,000 after buying an additional 693 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Baker Hughes by 451.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 162,457 shares of the company’s stock valued at $6,664,000 after buying an additional 133,008 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Stifel Nicolaus raised their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised 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. Finally, Jefferies Financial Group upped their price objective on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Trading Up 0.2 %

Baker Hughes stock opened at $43.58 on Friday. The stock has a market cap of $43.15 billion, a PE ratio of 14.62, a P/E/G ratio of 2.00 and a beta of 1.39. 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 has a 50-day moving average price of $44.53 and a 200 day moving average price of $40.42. Baker Hughes has a 52 week low of $29.19 and a 52 week high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (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 research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend 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.