Amundi Sells 1,167,894 Shares of Baker Hughes (NASDAQ:BKR)

Amundi reduced its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,103,056 shares of the company's stock after selling 1,167,894 shares during the period. Amundi owned 1.43% of Baker Hughes worth $612,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC lifted its holdings in Baker Hughes by 11.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 12,267 shares of the company's stock worth $503,000 after acquiring an additional 1,292 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after acquiring an additional 216 shares in the last quarter. AMF Tjanstepension AB lifted its holdings in Baker Hughes by 76.5% during the fourth quarter. AMF Tjanstepension AB now owns 723,208 shares of the company's stock worth $29,686,000 after acquiring an additional 313,530 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Baker Hughes during the fourth quarter worth about $1,427,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Baker Hughes by 4.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 140,893 shares of the company's stock worth $5,779,000 after acquiring an additional 6,158 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was 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 hyperlink. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BKR. Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Atb Cap Markets lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Benchmark restated a "buy" rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Susquehanna boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a report on Monday, February 3rd. Finally, Piper Sandler boosted their price target on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.06.

Baker Hughes Stock Up 2.4 %

Shares of NASDAQ:BKR traded up $0.99 during midday trading on Friday, reaching $42.89. The company had a trading volume of 9,116,402 shares, compared to its average volume of 6,279,988. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business's 50 day moving average price is $44.82 and its 200 day moving average price is $40.85. The stock has a market cap of $42.47 billion, a PE ratio of 14.39, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1-year low of $30.52 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results 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%. Research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Tuesday, February 11th. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is 30.87%.

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.