Empowered Funds LLC Has $3.47 Million Position in Baker Hughes (NASDAQ:BKR)

Empowered Funds LLC trimmed its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 68.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,688 shares of the company's stock after selling 181,140 shares during the quarter. Empowered Funds LLC's holdings in Baker Hughes were worth $3,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BKR. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the 3rd quarter worth approximately $30,000. True Wealth Design LLC raised its position in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after purchasing an additional 829 shares during the period. Groupama Asset Managment raised its position in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after purchasing an additional 811,711 shares during the period. Continuum Advisory LLC increased its position in Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after acquiring an additional 796 shares during the period. Finally, Eastern Bank increased its position in Baker Hughes by 598.4% in the 4th quarter. Eastern Bank now owns 1,739 shares of the company's stock valued at $71,000 after acquiring an additional 1,490 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on BKR shares. Benchmark restated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Atb Cap Markets cut Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Stifel Nicolaus raised their target price on Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. 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.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $51.06.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Price Performance

Shares of BKR traded up $0.25 during trading hours on Friday, hitting $46.40. 4,850,154 shares of the company were exchanged, compared to its average volume of 8,438,286. The firm has a fifty day simple moving average of $43.81 and a 200-day simple moving average of $39.84. The company has a market capitalization of $45.91 billion, a PE ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. Baker Hughes has a one year low of $28.66 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

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, beating 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, sell-side analysts predict that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio is presently 28.19%.

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.