Westpac Banking Corp Has $1.33 Million Position in Baker Hughes (NASDAQ:BKR)

Westpac Banking Corp lowered its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 28.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,386 shares of the company's stock after selling 13,177 shares during the quarter. Westpac Banking Corp's holdings in Baker Hughes were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BKR. Bryce Point Capital LLC bought a new position in Baker Hughes during the 4th quarter worth approximately $1,482,000. Huntington National Bank boosted its holdings in Baker Hughes by 16.0% in the fourth quarter. Huntington National Bank now owns 116,303 shares of the company's stock worth $4,771,000 after purchasing an additional 16,010 shares during the period. Kesler Norman & Wride LLC acquired a new position in Baker Hughes in the fourth quarter worth $1,011,000. Groupama Asset Managment increased its stake in Baker Hughes by 18.9% during the fourth quarter. Groupama Asset Managment now owns 1,057,363 shares of the company's stock valued at $43,288,000 after purchasing an additional 167,985 shares during the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of Baker Hughes by 110.0% during the fourth quarter. Trexquant Investment LP now owns 441,147 shares of the company's stock worth $18,096,000 after purchasing an additional 231,091 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

BKR traded up $3.75 during trading on Wednesday, reaching $38.75. The stock had a trading volume of 17,306,162 shares, compared to its average volume of 6,825,220. The stock has a 50 day moving average of $43.65 and a two-hundred day moving average of $42.01. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $38.37 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40.

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Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a positive change 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 annualized dividend and a dividend yield of 2.37%. Baker Hughes's dividend payout ratio (DPR) is 30.87%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on BKR. Stifel Nicolaus increased their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. TD Cowen dropped their price target on Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Evercore ISI boosted their price objective on Baker Hughes from $46.00 to $52.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Benchmark reaffirmed a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Atb Cap Markets lowered shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.18.

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.