River Global Investors LLP Lowers Holdings in Baker Hughes (NASDAQ:BKR)

River Global Investors LLP lowered its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 34.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 153,384 shares of the company's stock after selling 81,604 shares during the quarter. Baker Hughes makes up about 1.2% of River Global Investors LLP's investment portfolio, making the stock its 22nd largest holding. River Global Investors LLP's holdings in Baker Hughes were worth $6,293,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Baker Hughes during the 4th quarter valued at about $1,427,000. PNC Financial Services Group Inc. lifted its holdings in Baker Hughes by 4.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 140,893 shares of the company's stock worth $5,779,000 after buying an additional 6,158 shares during the period. Banco Santander S.A. boosted its position in Baker Hughes by 34.9% during the 4th quarter. Banco Santander S.A. now owns 24,087 shares of the company's stock valued at $988,000 after acquiring an additional 6,226 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Baker Hughes during the 4th quarter worth approximately $1,293,000. Finally, E Fund Management Co. Ltd. raised its position in shares of Baker Hughes by 33.7% in the 4th quarter. E Fund Management Co. Ltd. now owns 14,411 shares of the company's stock worth $591,000 after acquiring an additional 3,629 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Remove Ads

Baker Hughes Stock Performance

Shares of BKR traded up $0.63 during mid-day trading on Wednesday, hitting $42.48. 7,128,810 shares of the company traded hands, compared to its average volume of 6,304,063. The stock has a market cap of $42.06 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 2.00 and a beta of 1.30. The stock has a 50-day moving average price of $44.84 and a two-hundred day moving average price of $40.94. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. 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 (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. Equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. Baker Hughes's dividend payout ratio (DPR) is presently 30.87%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BKR shares. Bank of America upped their price target on Baker Hughes from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. 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. The Goldman Sachs Group lifted their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Evercore ISI upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada lifted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an "outperform" 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.06.

Insider Activity at Baker Hughes

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

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.