Vinva Investment Management Ltd Sells 14,179 Shares of Baker Hughes (NASDAQ:BKR)

Vinva Investment Management Ltd cut its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 27.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,425 shares of the company's stock after selling 14,179 shares during the quarter. Vinva Investment Management Ltd's holdings in Baker Hughes were worth $1,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. Strategic Financial Concepts LLC purchased a new position in Baker Hughes during the fourth quarter valued at $640,000. Burney Co. grew its stake in shares of Baker Hughes by 315.0% in the fourth quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after acquiring an additional 105,349 shares during the last quarter. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes during the fourth quarter valued at $1,180,000. Artemis Investment Management LLP raised its position in shares of Baker Hughes by 29.4% in the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock worth $43,233,000 after purchasing an additional 239,773 shares during the last quarter. Finally, Czech National Bank boosted its stake in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after purchasing an additional 12,178 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on BKR. TD Cowen reduced their target price on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group increased their price target on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Piper Sandler lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Benchmark reissued a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.06.

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Baker Hughes Price Performance

Shares of BKR stock traded up $0.58 during mid-day trading on Tuesday, hitting $45.18. The company had a trading volume of 7,541,276 shares, compared to its average volume of 6,286,726. The company has a market capitalization of $44.73 billion, a P/E ratio of 15.16, a P/E/G ratio of 2.00 and a beta of 1.30. The stock's 50 day moving average price is $44.96 and its 200-day moving average price is $41.50. 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.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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%. Equities 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 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 was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.04%. 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 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 sale, the executive vice president now directly owns 173,302 shares of the company's stock, 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 through this link. 0.25% of the stock is 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.