Baker Hughes (NASDAQ:BKR) Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lessened its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 45.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,958 shares of the company's stock after selling 66,136 shares during the quarter. Iridian Asset Management LLC CT's holdings in Baker Hughes were worth $3,239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BKR. Bridges Investment Management Inc. grew its position in Baker Hughes by 3.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock worth $333,000 after acquiring an additional 273 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 1.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock worth $923,000 after purchasing an additional 295 shares during the last quarter. Graypoint LLC boosted its position in Baker Hughes by 3.0% during the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company's stock valued at $372,000 after buying an additional 301 shares during the period. Bleakley Financial Group LLC grew its holdings in Baker Hughes by 1.8% in the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company's stock worth $861,000 after acquiring an additional 380 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Baker Hughes by 1.4% in the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock valued at $1,079,000 after acquiring an additional 398 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. Atb Cap Markets lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a research note on Friday, October 25th. Evercore ISI lifted their price target on Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. TD Cowen lowered their price objective on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $51.06.

Baker Hughes Trading Up 0.3 %

NASDAQ BKR traded up $0.15 on Tuesday, hitting $47.33. 2,476,949 shares of the stock were exchanged, compared to its average volume of 7,916,176. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $49.40. The firm has a market capitalization of $46.84 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $39.62.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts forecast that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a $0.23 dividend. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes's payout ratio is currently 28.19%.

Insider Buying and Selling at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.