Sound Shore Management Inc. CT Trims Holdings in Baker Hughes (NASDAQ:BKR)

Sound Shore Management Inc. CT trimmed its position in Baker Hughes (NASDAQ:BKR) by 19.4% in the 4th quarter, HoldingsChannel reports. The firm owned 1,578,824 shares of the company’s stock after selling 379,002 shares during the quarter. Sound Shore Management Inc. CT’s holdings in Baker Hughes were worth $64,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 0.5% in the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock worth $867,514,000 after purchasing an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after acquiring an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after acquiring an additional 145,537 shares during the period. Raymond James Financial Inc. acquired a new stake in Baker Hughes during the fourth quarter worth about $291,289,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Baker Hughes by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after acquiring an additional 135,200 shares during the period. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction that occurred on 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 owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on BKR shares. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Wells Fargo & Company raised their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stifel Nicolaus raised their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, TD Cowen dropped their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $44.11 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business’s 50 day moving average price is $44.97 and its 200-day moving average price is $41.42. The firm has a market capitalization of $43.67 billion, a PE ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results 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 return on equity of 14.58% and a net margin of 10.70%. As a group, equities research analysts expect 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. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.09%. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

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.