Baker Hughes (NASDAQ:BKR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 16.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 696,927 shares of the company's stock after selling 139,313 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of Baker Hughes worth $25,194,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Baker Hughes by 32.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company's stock valued at $581,729,000 after purchasing an additional 4,207,973 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Baker Hughes by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company's stock valued at $306,801,000 after purchasing an additional 692,859 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Baker Hughes by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company's stock worth $348,074,000 after acquiring an additional 680,621 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Baker Hughes by 10.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company's stock worth $221,405,000 after acquiring an additional 612,715 shares during the last quarter. Finally, Intermede Investment Partners Ltd lifted its stake in shares of Baker Hughes by 16.5% during the 1st quarter. Intermede Investment Partners Ltd now owns 4,284,361 shares of the company's stock worth $143,526,000 after acquiring an additional 606,671 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Baker Hughes Stock Up 1.4 %

NASDAQ:BKR traded up $0.53 during midday trading on Monday, reaching $38.17. The company had a trading volume of 5,397,767 shares, compared to its average volume of 7,219,417. The firm has a market capitalization of $37.77 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 0.65 and a beta of 1.38. The stock's fifty day simple moving average is $36.04 and its 200-day simple moving average is $34.60. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $39.05. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.21 billion. During the same period last year, the firm earned $0.42 earnings per share. Baker Hughes's quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Baker Hughes will post 2.28 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, November 4th. Baker Hughes's dividend payout ratio is presently 37.67%.

Analyst Upgrades and Downgrades

BKR has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on Baker Hughes from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Evercore ISI raised their price objective on Baker Hughes from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. Citigroup reduced their price objective on Baker Hughes from $44.00 to $42.00 and set a "buy" rating on the stock in a report on Friday, September 27th. Finally, Benchmark restated a "buy" rating and set a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.12.

Insider Buying and Selling at Baker Hughes

In other news, CEO Lorenzo Simonelli sold 114,286 shares of the business's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.00, for a total transaction of $4,000,010.00. Following the sale, the chief executive officer now owns 502,053 shares of the company's stock, valued at $17,571,855. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.