Maryland State Retirement & Pension System Has $2.19 Million Position in Baker Hughes (NASDAQ:BKR)

Maryland State Retirement & Pension System lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 6.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 53,296 shares of the company’s stock after selling 3,797 shares during the period. Maryland State Retirement & Pension System’s holdings in Baker Hughes were worth $2,186,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. JFS Wealth Advisors LLC raised its position in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes in the fourth quarter worth $30,000. Larson Financial Group LLC raised its holdings in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the period. True Wealth Design LLC raised its holdings in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the period. Finally, Continuum Advisory LLC raised its holdings in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $44.69 on Friday. The firm has a 50 day moving average of $44.95 and a 200-day moving average of $41.26. The stock has a market capitalization of $44.25 billion, a PE ratio of 15.00, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. 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 data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm 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. 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. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is presently 30.87%.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s 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 of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research analyst reports. TD Cowen dropped their price objective 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. Barclays raised their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Piper Sandler lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and an average price target of $51.06.

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.