Baker Hughes (NASDAQ:BKR) Shares Sold by South Dakota Investment Council

South Dakota Investment Council lowered its position in shares of Baker Hughes (NASDAQ:BKR) by 32.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,396 shares of the company’s stock after selling 4,096 shares during the quarter. South Dakota Investment Council’s holdings in Baker Hughes were worth $287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after acquiring an additional 2,316,638 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Baker Hughes by 4.0% in the third quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock valued at $346,729,000 after buying an additional 379,385 shares during the last quarter. Morgan Stanley raised its holdings in shares of Baker Hughes by 8.6% in the third quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock valued at $333,627,000 after buying an additional 745,511 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Baker Hughes by 11.5% in the third quarter. Invesco Ltd. now owns 8,044,420 shares of the company’s stock valued at $284,129,000 after buying an additional 829,245 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Baker Hughes by 2.4% in the third quarter. Van ECK Associates Corp now owns 7,214,165 shares of the company’s stock valued at $254,804,000 after buying an additional 170,140 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Up 1.9 %

BKR stock opened at $33.30 on Friday. The company’s 50 day simple moving average is $31.97 and its 200-day simple moving average is $32.56. The firm has a market capitalization of $33.33 billion, a PE ratio of 18.60, a P/E/G ratio of 0.62 and a beta of 1.42. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. Equities analysts expect that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a $0.21 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.52%. Baker Hughes’s dividend payout ratio is presently 46.93%.

Analysts Set New Price Targets

BKR has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a report on Thursday, February 1st. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday. TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. UBS Group increased their price target on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday. Finally, Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average price target of $40.94.

Insider Activity

In related news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at $425,437.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the transaction, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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.