Baker Hughes (NASDAQ:BKR) Shares Sold by Prudential PLC

Prudential PLC cut its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 382,011 shares of the company's stock after selling 40,197 shares during the quarter. Prudential PLC's holdings in Baker Hughes were worth $15,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BKR. Foundry Partners LLC acquired a new stake in shares of Baker Hughes during the 4th quarter worth $8,456,000. Bornite Capital Management LP acquired a new stake in Baker Hughes during the fourth quarter worth about $20,510,000. Pitcairn Co. raised its holdings in shares of Baker Hughes by 28.2% in the 4th quarter. Pitcairn Co. now owns 15,496 shares of the company's stock worth $636,000 after purchasing an additional 3,413 shares during the period. ExodusPoint Capital Management LP lifted its stake in shares of Baker Hughes by 83.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 415,576 shares of the company's stock valued at $17,047,000 after purchasing an additional 188,603 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new stake in shares of Baker Hughes during the 4th quarter worth about $1,482,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company's stock.

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Baker Hughes Stock Performance

NASDAQ:BKR traded down $0.11 during trading hours on Wednesday, reaching $34.89. 5,453,266 shares of the stock were exchanged, compared to its average volume of 6,765,605. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. 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 stock has a market capitalization of $34.54 billion, a P/E ratio of 11.68, a P/E/G ratio of 2.00 and a beta of 1.08. The firm has a 50 day simple moving average of $43.91 and a 200-day simple moving average of $42.01.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its 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 net margin of 10.70% and a return on equity of 14.58%. As a group, sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a $0.23 dividend. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Tuesday, February 11th. Baker Hughes's payout ratio is presently 30.87%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Bank of America upped their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. TD Cowen cut 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. Susquehanna increased their target price on Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research note on Monday, February 3rd. Finally, Barclays reduced their price target on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, Baker Hughes currently has a consensus rating of "Moderate Buy" and an average target price of $51.18.

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.