State of Tennessee Department of Treasury Raises Stake in Baker Hughes (NASDAQ:BKR)

State of Tennessee Department of Treasury raised its position in shares of Baker Hughes (NASDAQ:BKR) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 341,150 shares of the company’s stock after purchasing an additional 28,635 shares during the period. State of Tennessee Department of Treasury’s holdings in Baker Hughes were worth $13,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BKR. Tower Research Capital LLC TRC boosted its stake in Baker Hughes by 26.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 54,186 shares of the company’s stock worth $2,223,000 after purchasing an additional 11,367 shares during the period. MML Investors Services LLC boosted its holdings in shares of Baker Hughes by 152.2% in the 4th quarter. MML Investors Services LLC now owns 43,735 shares of the company’s stock worth $1,794,000 after purchasing an additional 26,395 shares in the last quarter. Natixis grew its position in Baker Hughes by 264.7% during the fourth quarter. Natixis now owns 81,140 shares of the company’s stock valued at $3,328,000 after acquiring an additional 58,893 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Baker Hughes by 1.4% during the 4th quarter. MetLife Investment Management LLC now owns 262,056 shares of the company’s stock valued at $10,750,000 after purchasing an additional 3,662 shares during the last quarter. Finally, Norinchukin Bank The increased its holdings in shares of Baker Hughes by 18.0% in the fourth quarter. Norinchukin Bank The now owns 65,799 shares of the company’s stock worth $2,699,000 after buying an additional 10,030 shares during the period. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Stifel Nicolaus lowered their price target on shares of Baker Hughes from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Evercore ISI boosted their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, TD Cowen dropped their target price on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.65.

Baker Hughes Price Performance

NASDAQ BKR opened at $38.36 on Wednesday. The business’s fifty day moving average is $42.01 and its 200 day moving average is $42.10. The company has a market capitalization of $37.98 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a fifty-two week low of $30.93 and a fifty-two week high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.40%. Baker Hughes’s payout ratio is 30.87%.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were 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 represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.27% of the company’s stock.

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.