Baker Hughes (NASDAQ:BKR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 13.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,275,078 shares of the company's stock after selling 193,875 shares during the period. Bank of Montreal Can owned about 0.13% of Baker Hughes worth $52,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BKR. Dynasty Wealth Management LLC lifted its holdings in shares of Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after purchasing an additional 207 shares during the last quarter. Larson Financial Group LLC grew 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 during the period. Alpine Woods Capital Investors LLC grew its stake in shares of Baker Hughes by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock worth $1,660,000 after purchasing an additional 267 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company's stock worth $130,000 after acquiring an additional 269 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock valued at $923,000 after purchasing an additional 295 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other 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 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 sale, the executive vice president now owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays lowered their price objective on shares of Baker Hughes from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada lifted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Wells Fargo & Company upped their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. TD Cowen lowered their target price on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus reduced their price target on Baker Hughes from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Baker Hughes presently has an average rating of "Moderate Buy" and a consensus price target of $50.65.

Baker Hughes Stock Up 1.1 %

Shares of BKR stock traded up $0.43 during trading hours on Tuesday, reaching $38.24. The company had a trading volume of 1,215,178 shares, compared to its average volume of 6,862,703. The company has a market capitalization of $37.86 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The stock's fifty day simple moving average is $43.01 and its 200 day simple moving average is $42.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) 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 expect that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is 30.87%.

About Baker Hughes

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.