Hourglass Capital LLC Reduces Position in Baker Hughes (NASDAQ:BKR)

Hourglass Capital LLC trimmed its position in Baker Hughes (NASDAQ:BKR) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,235 shares of the company’s stock after selling 1,810 shares during the period. Baker Hughes accounts for approximately 1.9% of Hourglass Capital LLC’s investment portfolio, making the stock its 19th biggest holding. Hourglass Capital LLC’s holdings in Baker Hughes were worth $6,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the third quarter worth $30,000. True Wealth Design LLC grew its position in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the period. Groupama Asset Managment raised its stake 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 valued at $32,000 after buying an additional 811,711 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock valued at $35,000 after buying an additional 796 shares during the period. Finally, Eastern Bank boosted its stake in shares of Baker Hughes by 598.4% in the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock worth $71,000 after buying an additional 1,490 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Baker Hughes stock opened at $46.40 on Friday. The company has a fifty day simple moving average of $43.81 and a 200-day simple moving average of $39.83. The firm has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52-week low of $28.66 and a 52-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 the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, equities analysts anticipate that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted 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. Bank of America increased their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.