Teacher Retirement System of Texas Sells 221,809 Shares of Baker Hughes Company (NASDAQ:BKR)

Teacher Retirement System of Texas cut its stake in Baker Hughes Company (NASDAQ:BKR - Free Report) by 52.8% during the 1st quarter, according to its most recent Form 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BKR. Norges Bank acquired a new stake in shares of Baker Hughes during the fourth quarter worth $829,092,000. Neuberger Berman Group LLC grew its holdings in Baker Hughes by 2,527.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after acquiring an additional 3,193,089 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Baker Hughes in the 4th quarter worth about $128,542,000. FMR LLC lifted its stake in shares of Baker Hughes by 12.5% in the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock valued at $644,098,000 after purchasing an additional 1,744,225 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Baker Hughes by 18.4% in the 4th quarter. Northern Trust Corp now owns 10,000,756 shares of the company's stock valued at $410,231,000 after purchasing an additional 1,553,536 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the subject of a number of research analyst reports. TD Securities lowered their target price on Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. TD Cowen reduced their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays dropped their target price on shares of Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada decreased their price target on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley decreased their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $48.50.

Baker Hughes Stock Performance

Baker Hughes stock traded down $0.11 during midday trading on Monday, reaching $39.53. The stock had a trading volume of 902,287 shares, compared to its average volume of 7,145,231. The firm has a market capitalization of $39.16 billion, a PE ratio of 13.50, a P/E/G ratio of 4.27 and a beta of 0.91. Baker Hughes Company has a 12 month low of $32.25 and a 12 month high of $49.40. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm's 50-day moving average price is $37.70 and its 200 day moving average price is $41.02.

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 the consensus estimate of $0.48 by $0.03. Baker Hughes had a net margin of 10.51% and a return on equity of 14.70%. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.54 billion. As a group, research analysts predict that Baker Hughes Company will post 2.59 earnings per share 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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

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.