Rockland Trust Co. Trims Holdings in Baker Hughes (NASDAQ:BKR)

Rockland Trust Co. reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 16.9% in the fourth quarter, Holdings Channel reports. The firm owned 6,627 shares of the company’s stock after selling 1,350 shares during the period. Rockland Trust Co.’s holdings in Baker Hughes were worth $272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes in the 3rd quarter valued at about $30,000. True Wealth Design LLC boosted its holdings in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after purchasing an additional 829 shares during the period. Continuum Advisory LLC boosted its holdings in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after purchasing an additional 796 shares during the period. Quarry LP increased its holdings in Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after purchasing an additional 714 shares during the period. Finally, Eastern Bank raised its position in Baker Hughes by 598.4% during the 4th quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after purchasing an additional 1,490 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Trading Up 1.4 %

NASDAQ BKR opened at $45.72 on Thursday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $45.90. The company has a fifty day simple moving average of $42.54 and a two-hundred day simple moving average of $38.14. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a market cap of $45.24 billion, a P/E ratio of 20.50, a P/E/G ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, analysts forecast that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. Baker Hughes’s dividend payout ratio is currently 37.67%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BKR. TD Cowen dropped their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Evercore ISI increased their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research note on Thursday, October 24th. Finally, Citigroup increased their target price on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.53.

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.