Kentucky Retirement Systems Sells 5,998 Shares of Baker Hughes (NASDAQ:BKR)

Kentucky Retirement Systems reduced its stake in Baker Hughes (NASDAQ:BKR) by 8.0% during the 3rd quarter, Holdings Channel reports. The fund owned 69,207 shares of the company’s stock after selling 5,998 shares during the period. Kentucky Retirement Systems’ holdings in Baker Hughes were worth $2,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Baker Hughes in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. bought a new stake in Baker Hughes in the 1st quarter valued at $34,000. Alta Advisers Ltd acquired a new position in Baker Hughes in the 2nd quarter valued at $42,000. Headlands Technologies LLC bought a new position in Baker Hughes during the 2nd quarter worth $48,000. Finally, Quarry LP lifted its holdings in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after buying an additional 714 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Evercore ISI raised their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Susquehanna boosted their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Citigroup increased their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, UBS Group cut their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.59.

Baker Hughes Stock Performance

NASDAQ BKR opened at $42.94 on Monday. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $44.49. The stock has a market cap of $42.49 billion, a PE ratio of 19.26, a PEG ratio of 0.72 and a beta of 1.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. The firm’s fifty day moving average price is $37.48 and its two-hundred day moving average price is $35.24.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter in the previous year, the company posted $0.42 EPS. Baker Hughes’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

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.