Teacher Retirement System of Texas Has $8.72 Million Stock Position in Baker Hughes Company (NASDAQ:BKR)

Teacher Retirement System of Texas reduced its stake in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 52.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,432 shares of the company's stock after selling 221,809 shares during the period. Teacher Retirement System of Texas' holdings in Baker Hughes were worth $8,721,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Private Trust Co. NA increased its holdings in shares of Baker Hughes by 15.9% during the 1st quarter. Private Trust Co. NA now owns 3,279 shares of the company's stock worth $144,000 after buying an additional 449 shares during the last quarter. DAVENPORT & Co LLC purchased a new stake in Baker Hughes during the 1st quarter worth $233,000. Summit Trail Advisors LLC boosted its position in Baker Hughes by 17.8% during the 1st quarter. Summit Trail Advisors LLC now owns 11,000 shares of the company's stock worth $483,000 after purchasing an additional 1,660 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Baker Hughes by 1.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 111,499 shares of the company's stock worth $4,900,000 after purchasing an additional 1,407 shares during the period. Finally, Alta Advisers Ltd purchased a new stake in Baker Hughes during the 1st quarter worth $236,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Down 0.5%

Baker Hughes stock traded down $0.21 during midday trading on Friday, reaching $39.62. The stock had a trading volume of 3,607,099 shares, compared to its average volume of 7,169,819. The firm's fifty day simple moving average is $37.70 and its two-hundred day simple moving average is $41.01. Baker Hughes Company has a twelve month low of $32.25 and a twelve month high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.93. The firm has a market cap of $39.25 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 4.27 and a beta of 0.91.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results 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 business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. Equities analysts anticipate that Baker Hughes Company 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. Shareholders of record on Tuesday, May 6th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.92 annualized dividend and a yield of 2.32%. Baker Hughes's dividend payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the stock a "buy" rating in a research report on Thursday, April 24th. Citigroup decreased their price target on shares of Baker Hughes from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley decreased their price objective on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Susquehanna decreased their price objective on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada decreased their price objective on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.50.

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.