California Public Employees Retirement System Trims Stake in Baker Hughes (NASDAQ:BKR)

California Public Employees Retirement System decreased its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,662,413 shares of the company's stock after selling 111,091 shares during the quarter. California Public Employees Retirement System owned 0.17% of Baker Hughes worth $68,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Townsquare Capital LLC grew its holdings in shares of Baker Hughes by 41.0% in the third quarter. Townsquare Capital LLC now owns 21,551 shares of the company's stock worth $779,000 after acquiring an additional 6,272 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Baker Hughes during the 3rd quarter valued at about $1,004,000. Point72 Hong Kong Ltd purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at about $416,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Baker Hughes in the 3rd quarter worth approximately $386,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Baker Hughes in the third quarter worth approximately $283,000. Institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BKR shares. TD Cowen decreased their price target on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Susquehanna lifted their target price on Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research report on Monday, February 3rd. Jefferies Financial Group upped their price target on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Barclays reduced their target price on shares of Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.00.

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Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $5.45 during trading on Friday, reaching $35.41. 20,972,174 shares of the stock traded hands, compared to its average volume of 6,692,906. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The business has a fifty day simple moving average of $44.40 and a two-hundred day simple moving average of $42.07. The company has a market capitalization of $35.06 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.60%. Baker Hughes's dividend payout ratio is presently 30.87%.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company'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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.25% of the stock is owned by company insiders.

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.