Baker Hughes (NASDAQ:BKR) Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its position in Baker Hughes (NASDAQ:BKR) by 20.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 818,898 shares of the company’s stock after selling 216,006 shares during the period. Korea Investment CORP’s holdings in Baker Hughes were worth $33,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKR. Quest Partners LLC raised its position in Baker Hughes by 446,900.0% during the third quarter. Quest Partners LLC now owns 4,470 shares of the company’s stock worth $162,000 after acquiring an additional 4,469 shares during the last quarter. Cerity Partners LLC raised its position in shares of Baker Hughes by 90.4% during the 3rd quarter. Cerity Partners LLC now owns 132,652 shares of the company’s stock worth $4,795,000 after purchasing an additional 62,980 shares during the last quarter. Townsquare Capital LLC lifted its stake in Baker Hughes by 41.0% in the 3rd quarter. Townsquare Capital LLC now owns 21,551 shares of the company’s stock valued at $779,000 after buying an additional 6,272 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Baker Hughes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after buying an additional 145,537 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in Baker Hughes by 4.6% during the third quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company’s stock worth $326,000 after buying an additional 401 shares in the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen reduced their price objective on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group raised 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. Susquehanna boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Barclays raised their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group boosted their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Two research 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, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $43.08 on Friday. The business has a 50-day moving average of $44.81 and a two-hundred day moving average of $41.67. The firm has a market capitalization of $42.65 billion, a PE ratio of 14.46, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated 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 directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.