Asset Management One Co. Ltd. Trims Stock Holdings in Baker Hughes (NASDAQ:BKR)

Asset Management One Co. Ltd. trimmed its position in Baker Hughes (NASDAQ:BKR) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 376,801 shares of the company’s stock after selling 5,471 shares during the period. Asset Management One Co. Ltd.’s holdings in Baker Hughes were worth $15,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avestar Capital LLC boosted its holdings in Baker Hughes by 11.0% in the fourth quarter. Avestar Capital LLC now owns 7,844 shares of the company’s stock worth $322,000 after acquiring an additional 775 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Baker Hughes by 0.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,541,076 shares of the company’s stock worth $230,271,000 after acquiring an additional 45,324 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Baker Hughes by 44.1% in the fourth quarter. Summit Trail Advisors LLC now owns 9,340 shares of the company’s stock worth $383,000 after acquiring an additional 2,858 shares in the last quarter. Paladin Wealth LLC bought a new stake in Baker Hughes in the fourth quarter worth $456,000. Finally, Savant Capital LLC boosted its holdings in Baker Hughes by 4.9% in the fourth quarter. Savant Capital LLC now owns 103,248 shares of the company’s stock worth $4,235,000 after acquiring an additional 4,851 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America boosted their target price on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Susquehanna boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. Wells Fargo & Company upped their price target on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Cowen lowered their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Jefferies Financial Group upped their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Price Performance

NASDAQ BKR opened at $46.40 on Friday. 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 business’s fifty day moving average is $43.81 and its 200 day moving average is $39.83. The company has a market capitalization of $45.91 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.07 and a beta of 1.39. Baker Hughes has a fifty-two week low of $28.66 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Baker Hughes will post 2.57 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.98%. Baker Hughes’s dividend payout ratio is 28.19%.

Insider Activity

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction 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 in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

About Baker Hughes

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.