New York Life Investment Management LLC Decreases Stake in Baker Hughes (NASDAQ:BKR)

New York Life Investment Management LLC decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,142 shares of the company’s stock after selling 260 shares during the quarter. New York Life Investment Management LLC’s holdings in Baker Hughes were worth $6,036,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its stake in Baker Hughes by 135.9% during 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 during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes during the third quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in 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 purchasing an additional 829 shares during the last quarter. Groupama Asset Managment lifted its stake in Baker Hughes by 1,045.1% during the third quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after purchasing an additional 811,711 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in 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 purchasing an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 2.3 %

NASDAQ:BKR opened at $44.59 on Friday. The firm has a market cap of $44.15 billion, a P/E ratio of 14.96, a PEG ratio of 2.00 and a beta of 1.39. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $44.62 and its 200-day simple moving average is $40.49. Baker Hughes has a 12-month low of $29.30 and a 12-month 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 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%. Equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors 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%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 30.87%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen reduced their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus boosted their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.06.

Insider Buying and Selling

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

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.