Baker Hughes (NASDAQ:BKR) Stock Holdings Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,259 shares of the company's stock after selling 13,397 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Baker Hughes worth $21,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BKR. Geode Capital Management LLC raised its position in shares of Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company's stock valued at $867,514,000 after purchasing an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Baker Hughes by 34.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock valued at $394,775,000 after acquiring an additional 2,811,940 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Baker Hughes by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company's stock valued at $348,233,000 after acquiring an additional 145,537 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company's stock valued at $251,304,000 after acquiring an additional 22,383 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Baker Hughes by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company's stock worth $230,271,000 after acquiring an additional 45,324 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

NASDAQ BKR traded down $0.09 on Wednesday, reaching $46.89. 5,053,180 shares of the stock traded hands, compared to its average volume of 7,606,050. Baker Hughes has a 12 month low of $28.66 and a 12 month high of $49.40. The company has a market cap of $46.43 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 2.04 and a beta of 1.39. The firm's fifty day simple moving average is $44.03 and its 200 day simple moving average is $39.99. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Baker Hughes will post 2.58 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. 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 1.96%. Baker Hughes's dividend payout ratio is currently 30.87%.

Insider Buying and Selling

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. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BKR has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Citigroup lifted their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Argus raised shares of Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Barclays increased their price objective on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.06.

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.