Baker Hughes (NASDAQ:BKR) Stock Holdings Decreased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 21.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 189,386 shares of the company's stock after selling 52,312 shares during the period. Canada Pension Plan Investment Board's holdings in Baker Hughes were worth $7,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC boosted its position in Baker Hughes by 280.5% during the fourth quarter. NewEdge Advisors LLC now owns 42,297 shares of the company's stock worth $1,735,000 after purchasing an additional 31,181 shares in the last quarter. United Capital Financial Advisors LLC grew its position in shares of Baker Hughes by 4.2% in the fourth quarter. United Capital Financial Advisors LLC now owns 19,043 shares of the company's stock valued at $781,000 after purchasing an additional 772 shares during the last quarter. Jump Financial LLC increased its stake in shares of Baker Hughes by 71.0% during the 4th quarter. Jump Financial LLC now owns 14,509 shares of the company's stock worth $595,000 after purchasing an additional 6,026 shares in the last quarter. Canada Post Corp Registered Pension Plan acquired a new position in shares of Baker Hughes during the 4th quarter worth approximately $4,297,000. Finally, Tribune Investment Group LP purchased a new stake in Baker Hughes in the 4th quarter valued at approximately $5,333,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 173,302 shares of the company's stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Benchmark reissued a "buy" rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Stifel Nicolaus set a $50.00 target price on shares of Baker Hughes and gave the company a "buy" rating in a report on Thursday. Jefferies Financial Group raised their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Citigroup reduced their price objective on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler lowered their target price on shares of Baker Hughes from $53.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.07 during trading hours on Friday, hitting $36.45. The stock had a trading volume of 7,102,964 shares, compared to its average volume of 6,913,047. The stock's fifty day simple moving average is $41.60 and its 200 day simple moving average is $42.05. The firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 12.23, a PEG 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 1-year low of $30.93 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Sell-side analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.52%. Baker Hughes's dividend payout ratio is presently 31.40%.

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.