Teacher Retirement System of Texas Sells 234,507 Shares of Baker Hughes (NASDAQ:BKR)

Teacher Retirement System of Texas lowered its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 35.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 420,241 shares of the company's stock after selling 234,507 shares during the period. Teacher Retirement System of Texas' holdings in Baker Hughes were worth $17,238,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new position in Baker Hughes in the fourth quarter valued at $640,000. Burney Co. boosted its holdings in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock worth $5,693,000 after purchasing an additional 105,349 shares in the last quarter. Northstar Advisory Group LLC bought a new position in shares of Baker Hughes during the 4th quarter valued at about $1,180,000. Artemis Investment Management LLP increased its position in shares of Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after purchasing an additional 239,773 shares during the last quarter. Finally, Czech National Bank lifted its position in Baker Hughes by 6.0% in the 4th quarter. Czech National Bank now owns 214,549 shares of the company's stock worth $8,801,000 after buying an additional 12,178 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on BKR shares. Stifel Nicolaus increased their price target on shares of Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Evercore ISI lifted their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 15th. TD Cowen lowered their price target on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Barclays raised their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group boosted their target price on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

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Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value 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 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 can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Baker Hughes Trading Up 1.3 %

Shares of NASDAQ:BKR traded up $0.58 on Tuesday, hitting $45.18. The company had a trading volume of 7,541,276 shares, compared to its average volume of 6,275,394. The firm's 50-day simple moving average is $44.97 and its two-hundred day simple moving average is $41.58. The firm has a market capitalization of $44.73 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.04%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes's dividend payout ratio is presently 30.87%.

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.