South Dakota Investment Council Sells 4,096 Shares of Baker Hughes (NASDAQ:BKR)

South Dakota Investment Council decreased its holdings in Baker Hughes (NASDAQ:BKR) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,396 shares of the company’s stock after selling 4,096 shares during the period. South Dakota Investment Council’s holdings in Baker Hughes were worth $287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC increased its holdings in shares of Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after purchasing an additional 2,316,638 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Baker Hughes by 4.0% in the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock worth $346,729,000 after purchasing an additional 379,385 shares in the last quarter. Morgan Stanley boosted its stake in shares of Baker Hughes by 8.6% in the 3rd quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after buying an additional 745,511 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Baker Hughes by 11.5% in the 3rd quarter. Invesco Ltd. now owns 8,044,420 shares of the company’s stock worth $284,129,000 after buying an additional 829,245 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Baker Hughes by 2.4% in the 3rd quarter. Van ECK Associates Corp now owns 7,214,165 shares of the company’s stock worth $254,804,000 after buying an additional 170,140 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

BKR has been the topic of a number of research reports. TD Cowen raised their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley raised their price target on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. The Goldman Sachs Group lifted their target price on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. Finally, Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Trading Up 1.9 %

Shares of NASDAQ BKR opened at $33.30 on Friday. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58. The business’s 50 day moving average is $31.97 and its two-hundred day moving average is $32.56. The stock has a market capitalization of $33.33 billion, a P/E ratio of 18.60, a PEG ratio of 0.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts expect that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.52%. Baker Hughes’s payout ratio is 46.93%.

Insider Activity at Baker Hughes

In related news, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Baker Hughes Company Profile

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.