Cohen & Steers Inc. Sells 15,841 Shares of Baker Hughes (NASDAQ:BKR)

Cohen & Steers Inc. cut its holdings in Baker Hughes (NASDAQ:BKR - Free Report) by 18.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,548 shares of the company's stock after selling 15,841 shares during the period. Cohen & Steers Inc.'s holdings in Baker Hughes were worth $2,894,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its holdings in Baker Hughes by 2.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 41,125 shares of the company's stock worth $1,687,000 after acquiring an additional 1,170 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of Baker Hughes in the 4th quarter worth about $523,000. Townsquare Capital LLC increased its stake in shares of Baker Hughes by 8.3% during the fourth quarter. Townsquare Capital LLC now owns 23,345 shares of the company's stock valued at $958,000 after purchasing an additional 1,794 shares in the last quarter. Black Cypress Capital Management LLC increased its position in Baker Hughes by 0.4% during the 4th quarter. Black Cypress Capital Management LLC now owns 103,624 shares of the company's stock valued at $4,251,000 after buying an additional 373 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Baker Hughes by 20.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 37,591 shares of the company's stock worth $1,538,000 after purchasing an additional 6,375 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Susquehanna dropped their price target on shares of Baker Hughes from $55.00 to $48.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company boosted their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Benchmark restated a "buy" rating and set a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus lowered their price target on Baker Hughes from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.65.

Baker Hughes Price Performance

Baker Hughes stock traded up $0.73 during mid-day trading on Friday, hitting $38.86. The stock had a trading volume of 5,548,880 shares, compared to its average volume of 6,878,413. The firm has a market capitalization of $38.47 billion, a P/E ratio of 13.04, a P/E/G ratio of 2.00 and a beta of 1.08. 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 firm's 50 day moving average is $42.34 and its 200 day moving average is $42.13. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is an increase from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio is currently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company's stock, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

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.