Vontobel Holding Ltd. Cuts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Vontobel Holding Ltd. lowered its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,497 shares of the company's stock after selling 33,334 shares during the period. Vontobel Holding Ltd.'s holdings in Baker Hughes were worth $5,968,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company's stock valued at $867,514,000 after acquiring an additional 123,172 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company's stock worth $394,775,000 after buying an additional 2,811,940 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Baker Hughes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company's stock worth $348,233,000 after buying an additional 145,537 shares during the period. Charles Schwab Investment Management Inc. increased its position in Baker Hughes by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company's stock worth $251,304,000 after buying an additional 22,383 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Baker Hughes by 0.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company's stock worth $230,271,000 after purchasing an additional 45,324 shares in the last quarter. Institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BKR shares. Jefferies Financial Group increased their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Citigroup increased their target price on Baker Hughes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price objective on Baker Hughes from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.06.

Baker Hughes Trading Down 0.2 %

Shares of BKR traded down $0.09 during mid-day trading on Wednesday, reaching $46.89. 5,053,180 shares of the company were exchanged, compared to its average volume of 7,606,050. Baker Hughes has a 52 week low of $28.66 and a 52 week 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. The stock has a market capitalization of $46.43 billion, a PE ratio of 15.73, a PEG ratio of 2.04 and a beta of 1.39. The business has a 50 day simple moving average of $44.03 and a two-hundred day simple moving average of $39.99.

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, topping 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%. On average, analysts predict that Baker Hughes will post 2.58 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th will be issued a $0.23 dividend. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, February 11th. Baker Hughes's payout ratio is presently 30.87%.

Insiders Place Their Bets

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 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 owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Company 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.