New York State Teachers Retirement System Has $38.38 Million Stock Holdings in Baker Hughes Company $BKR

New York State Teachers Retirement System cut its position in Baker Hughes Company (NASDAQ:BKR - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 842,854 shares of the company's stock after selling 32,175 shares during the period. New York State Teachers Retirement System owned about 0.09% of Baker Hughes worth $38,384,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management raised its holdings in Baker Hughes by 1,242.5% in the third quarter. Activest Wealth Management now owns 537 shares of the company's stock worth $26,000 after purchasing an additional 497 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Baker Hughes by 104.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company's stock valued at $32,000 after purchasing an additional 337 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 45.1% during the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company's stock valued at $37,000 after purchasing an additional 252 shares in the last quarter. Wolff Wiese Magana LLC grew its position in shares of Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company's stock valued at $38,000 after purchasing an additional 300 shares during the period. Finally, Spire Wealth Management increased its stake in Baker Hughes by 357.8% during the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company's stock worth $50,000 after purchasing an additional 798 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $69.12 on Friday. Baker Hughes Company has a twelve month low of $35.83 and a twelve month high of $70.41. The company has a quick ratio of 1.77, a current ratio of 2.13 and a debt-to-equity ratio of 0.79. The company has a 50-day simple moving average of $61.92 and a two-hundred day simple moving average of $54.29. The stock has a market capitalization of $68.57 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.44 and a beta of 0.97.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The business had revenue of $6.59 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The business's revenue was up 2.5% on a year-over-year basis. Analysts forecast that Baker Hughes Company will post 2.32 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, May 5th. Baker Hughes's dividend payout ratio (DPR) is currently 29.39%.

Insider Activity

In related news, CEO Lorenzo Simonelli sold 272,594 shares of Baker Hughes stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the sale, the chief executive officer directly owned 866,444 shares in the company, valued at $50,938,242.76. This trade represents a 23.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maria Georgia Magno sold 19,150 shares of the business's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $59.11, for a total transaction of $1,131,956.50. Following the completion of the transaction, the insider owned 14,588 shares in the company, valued at $862,296.68. This trade represents a 56.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 590,251 shares of company stock valued at $35,311,023 in the last 90 days. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BKR has been the subject of a number of research reports. UBS Group increased their target price on Baker Hughes from $69.00 to $73.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Barclays increased their target price on Baker Hughes from $57.00 to $62.00 and gave the stock an "overweight" rating in a report on Monday. Wall Street Zen cut shares of Baker Hughes from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. BMO Capital Markets raised their target price on shares of Baker Hughes from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, April 27th. Finally, Piper Sandler raised their target price on shares of Baker Hughes from $64.00 to $72.00 and gave the stock an "overweight" rating in a research note on Tuesday. Nineteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.09.

Baker Hughes Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm's roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE's oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.

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