California Public Employees Retirement System Has $63.28 Million Holdings in Baker Hughes (NASDAQ:BKR)

California Public Employees Retirement System cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,851,302 shares of the company’s stock after selling 60,471 shares during the period. California Public Employees Retirement System’s holdings in Baker Hughes were worth $63,278,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BKR. Louisiana State Employees Retirement System bought a new position in shares of Baker Hughes during the fourth quarter worth approximately $4,813,000. Nordea Investment Management AB increased its holdings in shares of 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 purchasing an additional 1,283,296 shares during the period. Wellington Management Group LLP increased its holdings in shares of Baker Hughes by 12.0% during the third quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after purchasing an additional 97,108 shares during the period. Artemis Investment Management LLP increased its holdings in shares of Baker Hughes by 8.7% during the fourth quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock worth $106,365,000 after purchasing an additional 248,125 shares during the period. Finally, DDD Partners LLC bought a new position in shares of Baker Hughes during the fourth quarter worth approximately $11,054,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes 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 transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP James E. Apostolides sold 10,000 shares of Baker Hughes 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 transaction, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction 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 owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Baker Hughes Stock Performance

NASDAQ BKR opened at $33.30 on Friday. The firm’s fifty day moving average price is $31.97 and its two-hundred day moving average price is $32.56. The stock has a market cap of $33.33 billion, a PE ratio of 18.60, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.45%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, equities analysts expect that Baker Hughes will post 2.07 EPS 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 issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.52%. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BKR shares. UBS Group raised their target price on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday. TD Cowen raised their target price 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. Susquehanna reissued a “positive” rating and issued a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Morgan Stanley lifted their price objective on shares of Baker Hughes from $40.00 to $43.00 in a research note on Tuesday. Finally, Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Baker Hughes presently has a consensus rating of “Moderate Buy” and an average 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.