Baker Hughes (NASDAQ:BKR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,271,708 shares of the company's stock after selling 89,538 shares during the period. AQR Capital Management LLC owned about 0.43% of Baker Hughes worth $175,225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $640,000. Burney Co. raised its position in Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company's stock valued at $5,693,000 after purchasing an additional 105,349 shares during the last quarter. Geode Capital Management LLC grew its position in Baker Hughes by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the last quarter. Northstar Advisory Group LLC purchased a new position in Baker Hughes during the 4th quarter worth $1,180,000. Finally, Artemis Investment Management LLP increased its stake in Baker Hughes by 29.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company's stock valued at $43,233,000 after purchasing an additional 239,773 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.91 during mid-day trading on Friday, hitting $37.10. 7,292,433 shares of the company were exchanged, compared to its average volume of 6,949,973. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The business's 50 day simple moving average is $40.44 and its two-hundred day simple moving average is $42.04. The company has a market capitalization of $36.76 billion, a P/E ratio of 12.45, a PEG ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.54 billion. Analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.48%. Baker Hughes's payout ratio is currently 31.40%.

Wall Street Analyst Weigh In

BKR has been the topic of a number of research reports. Susquehanna lowered their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Benchmark reiterated a "buy" rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Royal Bank of Canada cut their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, TD Securities cut their price target on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

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.