Baker Hughes (NASDAQ:BKR) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 35.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,024 shares of the company's stock after selling 10,778 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Baker Hughes were worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BKR. Geode Capital Management LLC lifted its position in shares of Baker Hughes by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company's stock valued at $867,514,000 after acquiring an additional 123,172 shares during the period. Norges Bank acquired a new stake in shares of Baker Hughes during the 4th quarter valued at approximately $829,092,000. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes during the 4th quarter valued at approximately $291,289,000. Charles Schwab Investment Management Inc. lifted its position in shares of Baker Hughes by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company's stock valued at $290,705,000 after acquiring an additional 135,200 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of 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 valued at $230,271,000 after acquiring an additional 45,324 shares during the period. Hedge funds and other institutional investors own 92.06% of the company's stock.

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Baker Hughes Trading Down 5.2 %

Shares of NASDAQ BKR traded down $2.03 during trading on Thursday, hitting $36.72. 2,808,616 shares of the company traded hands, compared to its average volume of 6,810,602. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The company has a 50-day moving average price of $43.65 and a 200-day moving average price of $42.01. The firm has a market capitalization of $36.36 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.00 and a beta of 1.08. 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 announced 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%. On average, equities analysts predict that Baker Hughes will post 2.59 EPS 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 given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.51%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio is 30.87%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BKR. Jefferies Financial Group lifted their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Barclays cut their price objective on Baker Hughes from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. TD Cowen cut their price objective on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Susquehanna lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price objective on Baker Hughes from $49.00 to $53.00 and gave the stock 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.18.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction on Monday, January 27th. The shares were 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 approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

Baker Hughes 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.