Comerica Bank Sells 16,112 Shares of Baker Hughes (NASDAQ:BKR)

Comerica Bank reduced its position in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,856 shares of the company's stock after selling 16,112 shares during the period. Comerica Bank's holdings in Baker Hughes were worth $7,542,000 as of its most recent filing with the Securities and Exchange Commission.

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

Baker Hughes Stock Up 2.5 %

Shares of NASDAQ:BKR opened at $37.10 on Friday. The business has a fifty day simple moving average of $40.44 and a 200 day simple moving average of $42.04. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The firm has a market cap of $36.76 billion, a P/E ratio of 12.45, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Tuesday, May 6th will be issued 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 31.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BKR shares. Susquehanna cut their target price on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company boosted their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a research 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, Citigroup reduced their target price on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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