State of Alaska Department of Revenue Sells 21,352 Shares of Baker Hughes (NASDAQ:BKR)

State of Alaska Department of Revenue trimmed its position in Baker Hughes (NASDAQ:BKR - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,817 shares of the company's stock after selling 21,352 shares during the period. State of Alaska Department of Revenue's holdings in Baker Hughes were worth $4,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes in the third quarter worth $30,000. True Wealth Design LLC grew its stake in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Groupama Asset Managment grew its stake in shares of Baker Hughes by 1,045.1% in the third quarter. Groupama Asset Managment now owns 889,378 shares of the company's stock worth $32,000 after acquiring an additional 811,711 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Baker Hughes by 442.2% in the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock worth $35,000 after acquiring an additional 796 shares during the last quarter. Finally, Eastern Bank grew its stake in shares of Baker Hughes by 598.4% in the fourth quarter. Eastern Bank now owns 1,739 shares of the company's stock worth $71,000 after acquiring an additional 1,490 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BKR shares. Barclays upped their price target on Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. TD Cowen lowered their price target on Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Susquehanna upped their price target on Baker Hughes from $53.00 to $55.00 and gave the company a "positive" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their target price on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Argus raised Baker Hughes from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes presently has an average rating of "Moderate Buy" and an average target price of $51.06.

Insider Buying and Selling

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

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $0.70 during trading on Wednesday, hitting $46.41. 6,680,791 shares of the company's stock were exchanged, compared to its average volume of 7,974,214. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 52-week low of $28.63 and a 52-week high of $49.40. The business's 50-day simple moving average is $43.56 and its 200 day simple moving average is $39.68. The company has a market cap of $45.92 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts predict that Baker Hughes will post 2.57 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.98%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. Baker Hughes's dividend payout ratio (DPR) is currently 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.