Simplicity Solutions LLC Cuts Stake in Baker Hughes (NASDAQ:BKR)

Simplicity Solutions LLC lowered its position in shares of Baker Hughes (NASDAQ:BKR) by 9.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,578 shares of the company’s stock after selling 2,008 shares during the quarter. Simplicity Solutions LLC’s holdings in Baker Hughes were worth $635,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in Baker Hughes by 0.5% during the 1st quarter. State Street Corp now owns 67,473,141 shares of the company’s stock valued at $1,947,274,000 after buying an additional 365,013 shares during the period. Geode Capital Management LLC boosted its position in Baker Hughes by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 21,391,034 shares of the company’s stock valued at $615,984,000 after buying an additional 495,677 shares during the period. FMR LLC boosted its position in Baker Hughes by 16.8% during the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after buying an additional 2,316,638 shares during the period. Northern Trust Corp lifted its position in shares of Baker Hughes by 4.0% in the 3rd quarter. Northern Trust Corp now owns 9,816,785 shares of the company’s stock worth $346,729,000 after purchasing an additional 379,385 shares during the period. Finally, Morgan Stanley lifted its position in shares of Baker Hughes by 8.6% in the 3rd quarter. Morgan Stanley now owns 9,445,847 shares of the company’s stock worth $333,627,000 after purchasing an additional 745,511 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

Shares of NASDAQ BKR opened at $32.02 on Thursday. The firm’s 50-day moving average price is $31.55 and its 200-day moving average price is $32.60. 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 cap of $32.05 billion, a PE ratio of 16.76, a PEG ratio of 0.67 and a beta of 1.42. Baker Hughes has a 52-week low of $26.81 and a 52-week high of $37.58.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.38 EPS. As a group, analysts anticipate that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Monday, February 12th. This is an increase from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio (DPR) is presently 43.98%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BKR. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Citigroup dropped their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Barclays dropped their target price on shares of Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Finally, TD Cowen raised their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.87.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $33.88, for a total transaction of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company’s stock, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP James E. Apostolides sold 5,000 shares of the firm’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 transaction, the senior vice president now owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James E. Apostolides sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 directly owns 14,451 shares in the company, valued at approximately $425,437.44. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Baker Hughes 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.