Baker Hughes (NASDAQ:BKR) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC cut its position in shares of Baker Hughes (NASDAQ:BKR) by 59.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,882 shares of the company’s stock after selling 10,015 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Baker Hughes were worth $282,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Dynasty Wealth Management LLC grew its holdings in shares of Baker Hughes by 2.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after acquiring an additional 207 shares during the last quarter. Cromwell Holdings LLC grew its holdings in shares of Baker Hughes by 9.3% in the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock worth $130,000 after acquiring an additional 269 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 1.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after acquiring an additional 295 shares during the last quarter. Key Financial Inc grew its holdings in shares of Baker Hughes by 16.3% in the 4th quarter. Key Financial Inc now owns 2,676 shares of the company’s stock worth $110,000 after acquiring an additional 376 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Baker Hughes by 1.8% in the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock worth $861,000 after acquiring an additional 380 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ:BKR opened at $42.84 on Friday. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40. The business has a 50-day moving average of $44.88 and a two-hundred day moving average of $41.01. The stock has a market capitalization of $42.42 billion, a P/E ratio of 14.38, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BKR shares. Jefferies Financial Group lifted their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada raised their target price on Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. TD Cowen decreased their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus raised their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.