Baker Hughes (NASDAQ:BKR) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,244,527 shares of the company's stock after selling 264,045 shares during the quarter. California State Teachers Retirement System owned 0.33% of Baker Hughes worth $133,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKR. JFS Wealth Advisors LLC grew its holdings in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after buying an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $30,000. Larson Financial Group LLC grew its holdings in shares of Baker Hughes by 41.2% during the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after buying an additional 216 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management purchased a new stake in Baker Hughes in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 92.06% of the company's stock.

Baker Hughes Stock Up 2.2 %

NASDAQ:BKR traded up $0.79 on Thursday, reaching $36.19. The stock had a trading volume of 8,903,138 shares, compared to its average volume of 6,928,563. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $40.75 and a 200 day moving average of $42.00. The stock has a market cap of $35.83 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.54%. Baker Hughes's payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BKR shares. Jefferies Financial Group boosted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Susquehanna lowered their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Evercore ISI lowered their target price on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, TD Securities lowered their target price 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 analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.11.

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.