Barclays PLC Sells 567,414 Shares of Baker Hughes (NASDAQ:BKR)

Barclays PLC lessened its holdings in shares of Baker Hughes (NASDAQ:BKR) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,394,906 shares of the company’s stock after selling 567,414 shares during the quarter. Barclays PLC owned approximately 0.24% of Baker Hughes worth $98,237,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company’s stock valued at $1,004,212,000 after acquiring an additional 465,832 shares in the last quarter. Norges Bank acquired a new position in Baker Hughes during the fourth quarter valued at approximately $829,092,000. FMR LLC raised its position in shares of Baker Hughes by 12.5% in the fourth quarter. FMR LLC now owns 15,702,057 shares of the company’s stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes in the fourth quarter worth $291,289,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Baker Hughes by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after buying an additional 135,200 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup dropped their target price on shares of Baker Hughes from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Susquehanna cut their price objective on Baker Hughes from $55.00 to $48.00 and set a “positive” rating for the company in a research report on Monday. The Goldman Sachs Group increased their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus dropped their price target on Baker Hughes from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group increased their price objective on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and an average target price of $50.65.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s 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 transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ:BKR opened at $38.16 on Wednesday. The stock has a market capitalization of $37.78 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The firm has a 50 day moving average of $42.83 and a 200-day moving average of $42.06.

Baker Hughes (NASDAQ:BKR) last issued 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 return on equity of 14.58% and a net margin of 10.70%. As a group, sell-side analysts anticipate 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. Investors of record on Tuesday, February 11th were 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 of this dividend was Tuesday, February 11th. This represents a $0.92 annualized dividend and a yield of 2.41%. Baker Hughes’s dividend payout ratio is 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.