Bleakley Financial Group LLC Sells 1,865 Shares of Baker Hughes (NASDAQ:BKR)

Bleakley Financial Group LLC cut its stake in shares of Baker Hughes (NASDAQ:BKR) by 9.1% during the fourth quarter, HoldingsChannel reports. The firm owned 18,721 shares of the company’s stock after selling 1,865 shares during the quarter. Bleakley Financial Group LLC’s holdings in Baker Hughes were worth $640,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB boosted its position in Baker Hughes by 731.1% in the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock valued at $49,732,000 after buying an additional 1,283,296 shares during the period. Wellington Management Group LLP increased its holdings in Baker Hughes by 12.0% during the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company’s stock worth $31,983,000 after purchasing an additional 97,108 shares during the period. Artemis Investment Management LLP lifted its holdings in shares of Baker Hughes by 8.7% in the 4th quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company’s stock worth $106,365,000 after buying an additional 248,125 shares during the period. DDD Partners LLC bought a new position in shares of Baker Hughes during the 4th quarter worth $11,054,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Baker Hughes during the third quarter valued at $29,400,000. 92.06% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares of the company’s stock, valued at approximately $425,437.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Baker Hughes Trading Down 2.8 %

Baker Hughes stock opened at $33.05 on Friday. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $33.08 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42. The stock has a 50-day moving average price of $31.36 and a 200 day moving average price of $32.70.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to analyst estimates of $6.93 billion. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. Sell-side analysts anticipate that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a $0.21 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, February 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.54%. Baker Hughes’s dividend payout ratio is presently 43.98%.

Analyst Ratings Changes

BKR has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Citigroup reduced their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Barclays cut their target price on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus target price of $40.87.

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.