Baker Hughes (NASDAQ:BKR) Shares Sold by GTS Securities LLC

GTS Securities LLC reduced its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 79.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,990 shares of the company's stock after selling 88,116 shares during the period. GTS Securities LLC's holdings in Baker Hughes were worth $943,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Baker Hughes in the fourth quarter valued at $640,000. Geode Capital Management LLC raised its stake in 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. Valicenti Advisory Services Inc. acquired a new stake in Baker Hughes in the fourth quarter valued at $3,308,000. Huntington National Bank raised its stake in Baker Hughes by 16.0% in the fourth quarter. Huntington National Bank now owns 116,303 shares of the company's stock valued at $4,771,000 after buying an additional 16,010 shares in the last quarter. Finally, Kesler Norman & Wride LLC acquired a new stake in Baker Hughes in the fourth quarter valued at $1,011,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of BKR stock traded down $0.72 during midday trading on Friday, reaching $36.64. 1,348,806 shares of the company traded hands, compared to its average volume of 7,063,730. The firm's 50 day simple moving average is $38.12 and its two-hundred day simple moving average is $41.81. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a market cap of $36.30 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

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

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.51%. Baker Hughes's payout ratio is 31.40%.

Analysts Set New Price Targets

BKR has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Wells Fargo & Company raised their price target on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on Baker Hughes from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Barclays dropped their price objective on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus set a $50.00 price objective on Baker Hughes and gave the stock a "buy" rating in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $49.11.

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.