Nomura Asset Management Co. Ltd. Sells 1,560 Shares of Baker Hughes (NASDAQ:BKR)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 331,105 shares of the company’s stock after selling 1,560 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Baker Hughes were worth $13,582,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its stake in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes during the fourth quarter worth about $30,000. Larson Financial Group LLC raised its holdings in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after acquiring an additional 216 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Baker Hughes by 2,181.6% in the 3rd 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 last quarter. Finally, Groupama Asset Managment lifted its position in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BKR. Wells Fargo & Company increased their price objective on 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. increased their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America increased their target price on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Benchmark restated a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $43.08 on Monday. The company has a market capitalization of $42.65 billion, a P/E ratio of 14.46, a P/E/G ratio of 2.00 and a beta of 1.30. The business has a fifty day simple moving average of $44.81 and a two-hundred day simple moving average of $41.79. 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 has a 1 year low of $30.93 and a 1 year 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 for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 2.14%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is 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.