Kentucky Retirement Systems Lowers Position in Baker Hughes (NASDAQ:BKR)

Kentucky Retirement Systems decreased its stake in Baker Hughes (NASDAQ:BKR) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,267 shares of the company’s stock after selling 940 shares during the quarter. Kentucky Retirement Systems’ holdings in Baker Hughes were worth $2,800,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKR. Cromwell Holdings LLC lifted its stake in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after buying an additional 269 shares in the last quarter. Bridges Investment Management Inc. raised its holdings in Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock valued at $333,000 after acquiring an additional 273 shares during the period. 180 Wealth Advisors LLC raised its holdings in Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after acquiring an additional 295 shares during the period. Graypoint LLC lifted its position in shares of Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock valued at $372,000 after acquiring an additional 301 shares in the last quarter. Finally, Key Financial Inc boosted its stake in shares of Baker Hughes by 16.3% in the fourth quarter. Key Financial Inc now owns 2,676 shares of the company’s stock worth $110,000 after acquiring an additional 376 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Atb Cap Markets downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Barclays boosted their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. The Goldman Sachs Group raised their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group boosted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $45.62 on Friday. The business’s 50 day moving average price is $44.28 and its 200-day moving average price is $40.16. Baker Hughes has a fifty-two week low of $28.88 and a fifty-two week high of $49.40. The company has a market cap of $45.17 billion, a P/E ratio of 15.31, a P/E/G ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping 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 predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s dividend 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.