Baker Hughes (NASDAQ:BKR) Stock Position Cut by Invesco Ltd.

Invesco Ltd. lowered its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,506,678 shares of the company's stock after selling 114,694 shares during the period. Invesco Ltd. owned 1.06% of Baker Hughes worth $430,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dynasty Wealth Management LLC boosted its position in shares of Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company's stock valued at $324,000 after acquiring an additional 207 shares during the period. Larson Financial Group LLC boosted its holdings in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock valued at $30,000 after acquiring an additional 216 shares during the last quarter. Alpine Woods Capital Investors LLC boosted its position in Baker Hughes by 0.7% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company's stock valued at $1,660,000 after acquiring an additional 267 shares during the last quarter. Cromwell Holdings LLC grew its position in shares of Baker Hughes by 9.3% during the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company's stock worth $130,000 after buying an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC increased its position in Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock valued at $923,000 after buying an additional 295 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

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Insider Activity at Baker Hughes

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

Baker Hughes Stock Down 0.6 %

Shares of BKR traded down $0.23 during mid-day trading on Monday, reaching $37.70. The company's stock had a trading volume of 1,203,954 shares, compared to its average volume of 6,867,030. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The stock has a market cap of $37.33 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The company's 50 day moving average is $43.23 and its 200 day moving average is $42.07.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's payout ratio is currently 30.87%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent analyst reports. Susquehanna lifted their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Bank of America increased their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.18.

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.