Baker Hughes (NASDAQ:BKR) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its stake in shares of Baker Hughes (NASDAQ:BKR) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,497 shares of the company’s stock after selling 5,438 shares during the quarter. New York Life Investment Management LLC’s holdings in Baker Hughes were worth $5,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its holdings in Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after acquiring an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC lifted its stake in Baker Hughes by 846.7% during the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after purchasing an additional 2,127,675 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its holdings in Baker Hughes by 348.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock worth $79,452,000 after buying an additional 1,805,870 shares in the last quarter. Royal Bank of Canada grew its position in Baker Hughes by 165.9% in the third quarter. Royal Bank of Canada now owns 2,228,646 shares of the company’s stock worth $78,716,000 after buying an additional 1,390,574 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Baker Hughes by 731.1% in the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after buying an additional 1,283,296 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

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

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $31.92 on Friday. The firm has a market cap of $31.95 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 0.55 and a beta of 1.44. Baker Hughes has a 1 year low of $26.96 and a 1 year high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $32.31 and a 200 day simple moving average of $32.48.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. As a group, sell-side analysts predict that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.63%. The ex-dividend date is Friday, May 3rd. Baker Hughes’s dividend payout ratio is 46.93%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BKR. Morgan Stanley raised their price objective on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. UBS Group upped their price objective on shares of Baker Hughes from $35.00 to $36.00 in a research note on Tuesday, April 23rd. Barclays dropped their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, January 26th. Finally, The Goldman Sachs Group upped their price target on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.94.

Baker Hughes 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.