iA Global Asset Management Inc. Sells 39,637 Shares of Baker Hughes (NASDAQ:BKR)

iA Global Asset Management Inc. decreased its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 153,793 shares of the company's stock after selling 39,637 shares during the quarter. iA Global Asset Management Inc.'s holdings in Baker Hughes were worth $6,309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Financial Concepts LLC acquired a new position in Baker Hughes during the fourth quarter worth $640,000. Burney Co. increased its position in shares of Baker Hughes by 315.0% during the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC bought a new position in Baker Hughes during the 4th quarter valued at about $1,180,000. Artemis Investment Management LLP boosted its position in Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after buying an additional 239,773 shares in the last quarter. Finally, Czech National Bank grew its stake in Baker Hughes by 6.0% during the fourth quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after buying an additional 12,178 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Trading Up 1.3 %

Shares of Baker Hughes stock traded up $0.58 during trading on Tuesday, hitting $45.18. 7,541,276 shares of the company were exchanged, compared to its average volume of 6,286,726. The firm has a market capitalization of $44.73 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The firm's fifty day moving average price is $44.96 and its 200 day moving average price is $41.50. 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 has a 1-year low of $30.93 and a 1-year high of $49.40.

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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 analysts' consensus estimates 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio is currently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on BKR. Susquehanna lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a research note on Monday, February 3rd. Bank of America boosted their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Barclays lifted their price target on Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. TD Cowen decreased their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Finally, Stifel Nicolaus boosted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and a consensus price target 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.