Baker Hughes (NASDAQ:BKR) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its position in Baker Hughes (NASDAQ:BKR - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,500 shares of the company's stock after selling 6,200 shares during the quarter. Louisiana State Employees Retirement System's holdings in Baker Hughes were worth $5,148,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Bridges Investment Management Inc. raised its stake in shares of Baker Hughes by 3.1% in the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company's stock worth $333,000 after purchasing an additional 273 shares during the last quarter. 180 Wealth Advisors LLC raised its position in Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company's stock valued at $923,000 after acquiring an additional 295 shares in the last quarter. Graypoint LLC raised its position in Baker Hughes by 3.0% during the third quarter. Graypoint LLC now owns 10,288 shares of the company's stock valued at $372,000 after acquiring an additional 301 shares in the last quarter. Bleakley Financial Group LLC raised its position in Baker Hughes by 1.8% during the fourth quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company's stock valued at $861,000 after acquiring an additional 380 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in Baker Hughes by 1.4% during the third quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company's stock valued at $1,079,000 after acquiring an additional 398 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 173,302 shares of the company's stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Wells Fargo & Company lifted their price target on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Benchmark reiterated a "buy" rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Piper Sandler raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.06.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.25 during trading on Friday, reaching $46.40. The stock had a trading volume of 4,850,154 shares, compared to its average volume of 8,438,286. The business has a fifty day moving average price of $43.81 and a 200-day moving average price of $39.84. The stock has a market cap of $45.91 billion, a PE ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a 1-year low of $28.66 and a 1-year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share 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%. On average, equities analysts forecast that Baker Hughes will post 2.57 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

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

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.