Legal & General Group Plc Sells 2,461,612 Shares of Baker Hughes (NASDAQ:BKR)

Legal & General Group Plc cut its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 28.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,289,029 shares of the company's stock after selling 2,461,612 shares during the quarter. Legal & General Group Plc owned 0.64% of Baker Hughes worth $257,976,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BKR. Norges Bank bought a new stake in Baker Hughes in the 4th quarter valued at about $829,092,000. Raymond James Financial Inc. acquired a new stake in Baker Hughes in the 4th quarter valued at approximately $291,289,000. Congress Asset Management Co. acquired a new position in Baker Hughes during the 4th quarter worth $107,155,000. FMR LLC increased its holdings in shares of Baker Hughes by 12.5% during the fourth quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Baker Hughes by 217.5% during the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company's stock valued at $70,901,000 after purchasing an additional 1,184,036 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Insider Transactions at Baker Hughes

In other 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 value of $358,160.00. Following 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 trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of analysts have commented on BKR shares. Bank of America boosted their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Benchmark reissued a "buy" rating and issued a $57.00 price objective on shares of Baker Hughes in a research note on Tuesday, February 11th. Stifel Nicolaus lifted their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group lifted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada raised their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.18.

Baker Hughes Stock Down 0.6 %

Shares of NASDAQ:BKR traded down $0.23 during trading on Monday, reaching $37.70. 1,203,954 shares of the company traded hands, compared to its average volume of 6,867,030. 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 has a 1-year low of $30.93 and a 1-year high of $49.40. The firm has a fifty day simple moving average of $43.23 and a 200 day simple moving average of $42.07. The firm has a market cap of $37.33 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 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%. Analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.23 per share. 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 2.44%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes's dividend payout ratio (DPR) is 30.87%.

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.