Amalgamated Bank Sells 5,379 Shares of Baker Hughes (NASDAQ:BKR)

Amalgamated Bank decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,074 shares of the company’s stock after selling 5,379 shares during the quarter. Amalgamated Bank’s holdings in Baker Hughes were worth $7,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JFS Wealth Advisors LLC lifted its stake in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the period. Ashton Thomas Securities LLC bought a new stake in Baker Hughes in the third quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the period. Groupama Asset Managment boosted its holdings in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in shares of Baker Hughes by 442.2% during the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after buying an additional 796 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes 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 sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BKR shares. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Atb Cap Markets lowered shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Bank of America raised their target price on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus increased their price target on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $43.51 on Thursday. Baker Hughes has a 1-year low of $29.19 and a 1-year high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The stock has a market cap of $43.08 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The stock’s fifty day simple moving average is $44.45 and its two-hundred day simple moving average is $40.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is presently 30.87%.

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.