Baker Hughes (NASDAQ:BKR) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its position in shares of Baker Hughes (NASDAQ:BKR) by 39.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,121,561 shares of the company’s stock after selling 734,575 shares during the period. Los Angeles Capital Management LLC owned 0.11% of Baker Hughes worth $38,335,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after acquiring an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Baker Hughes by 846.7% in the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after purchasing an additional 2,127,675 shares in the last quarter. Alphinity Investment Management Pty Ltd increased its holdings in shares of Baker Hughes by 348.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock valued at $79,452,000 after purchasing an additional 1,805,870 shares during the last quarter. Royal Bank of Canada boosted its stake in Baker Hughes by 165.9% during the third quarter. Royal Bank of Canada now owns 2,228,646 shares of the company’s stock worth $78,716,000 after buying an additional 1,390,574 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after buying an additional 1,283,296 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other Baker Hughes 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 of the company’s stock, valued at $508,132.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 0.0 %

Shares of BKR traded down $0.01 during midday trading on Friday, hitting $31.92. The company had a trading volume of 3,701,551 shares, compared to its average volume of 8,587,482. The company’s 50-day simple moving average is $32.31 and its 200-day simple moving average is $32.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.84 and a current ratio of 1.25. Baker Hughes has a 1 year low of $26.96 and a 1 year high of $37.58. The firm has a market capitalization of $31.95 billion, a P/E ratio of 17.83, a P/E/G ratio of 0.55 and a beta of 1.44.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts expect that Baker Hughes will post 2.08 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BKR. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a report on Monday, January 29th. Citigroup dropped their price target on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Susquehanna restated a “positive” rating and set a $40.00 price target on shares of Baker Hughes in a report on Monday, April 8th. UBS Group upped their price objective on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Finally, TD Cowen raised their target price on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

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.