Mutual of America Capital Management LLC Cuts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Mutual of America Capital Management LLC decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 295,332 shares of the company’s stock after selling 6,842 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Baker Hughes were worth $12,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 386 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes in the third quarter worth approximately $30,000. True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the last quarter. Continuum Advisory LLC boosted its holdings 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 purchasing an additional 796 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Baker Hughes in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 2.3 %

Shares of BKR stock opened at $44.59 on Friday. The company has a market capitalization of $44.15 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 2.00 and a beta of 1.39. Baker Hughes has a one year low of $29.30 and a one year high of $49.40. The company’s fifty day moving average price is $44.62 and its 200-day moving average price is $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 announced its quarterly earnings data 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%. Sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.06%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Citigroup raised their target price on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a report on Tuesday, February 11th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on 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 directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.