Vanguard Group Inc. Trims Holdings in Baker Hughes (NASDAQ:BKR)

Vanguard Group Inc. lessened its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,193,715 shares of the company's stock after selling 347,147 shares during the quarter. Vanguard Group Inc. owned 12.25% of Baker Hughes worth $4,971,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BKR. LPL Financial LLC raised its holdings in Baker Hughes by 57.7% in the 4th quarter. LPL Financial LLC now owns 289,414 shares of the company's stock worth $11,872,000 after acquiring an additional 105,878 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $15,424,000. Knights of Columbus Asset Advisors LLC increased its holdings in Baker Hughes by 55.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 16,709 shares of the company's stock worth $685,000 after buying an additional 5,970 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Baker Hughes by 5,538.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 20,300 shares of the company's stock worth $833,000 after buying an additional 19,940 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its stake in Baker Hughes by 45.6% during the 4th quarter. Mizuho Securities USA LLC now owns 93,785 shares of the company's stock valued at $3,847,000 after acquiring an additional 29,367 shares during the period. Institutional investors own 92.06% of the company's stock.

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Insider Buying and Selling at Baker Hughes

In related 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 transaction of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BKR. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. The Goldman Sachs Group lifted their price objective on Baker Hughes from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Piper Sandler increased their target price on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. TD Cowen cut their price target on Baker Hughes from $53.00 to $51.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group increased their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Two investment 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded down $1.15 on Wednesday, reaching $44.03. The company's stock had a trading volume of 2,768,582 shares, compared to its average volume of 7,693,828. 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 has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a 50-day simple moving average of $44.97 and a 200 day simple moving average of $41.58. The company has a market cap of $43.59 billion, a P/E ratio of 14.77, a PEG ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 research analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.09%. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes's payout ratio is presently 30.87%.

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.