Nikko Asset Management Americas Inc. Sells 10,321 Shares of Baker Hughes (NASDAQ:BKR)

Nikko Asset Management Americas Inc. lessened its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 35.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,184 shares of the company's stock after selling 10,321 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in Baker Hughes were worth $787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its position in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after buying an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes in the 4th quarter valued at about $30,000. Larson Financial Group LLC boosted its position in shares of Baker Hughes by 41.2% during the 4th 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. True Wealth Design LLC grew its holdings in shares of Baker Hughes by 2,181.6% during the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after purchasing an additional 829 shares in the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after purchasing an additional 796 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BKR shares. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Susquehanna upped 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. Evercore ISI increased their target price on Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. The Goldman Sachs Group lifted their price target on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Barclays increased their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

Baker Hughes Trading Down 1.3 %

Shares of NASDAQ BKR traded down $0.58 during trading hours on Friday, hitting $44.11. The company's stock had a trading volume of 20,138,274 shares, compared to its average volume of 6,287,829. 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 $43.67 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The business has a 50-day simple moving average of $44.95 and a 200-day simple moving average of $41.26.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. On average, 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. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. Baker Hughes's payout ratio is presently 30.87%.

Insider Activity at Baker Hughes

In related 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 sale, the executive vice president now directly owns 173,302 shares of the company's stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

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.