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

Teacher Retirement System of Texas trimmed its position in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 52.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Baker Hughes by 1.9% during 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 purchasing an additional 465,832 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in shares of Baker Hughes during the first quarter worth $360,000. Whalen Wealth Management Inc. purchased a new stake in shares of Baker Hughes during the first quarter worth $544,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Baker Hughes by 32.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,919 shares of the company's stock worth $963,000 after acquiring an additional 5,313 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Baker Hughes by 16.0% during the fourth quarter. Huntington National Bank now owns 116,303 shares of the company's stock worth $4,771,000 after acquiring an additional 16,010 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

Shares of BKR traded down $0.55 during midday trading on Monday, hitting $39.09. 5,336,324 shares of the company traded hands, compared to its average volume of 7,162,483. The firm has a 50 day moving average of $37.70 and a 200-day moving average of $41.02. Baker Hughes Company has a 52 week low of $32.25 and a 52 week high of $49.40. The stock has a market cap of $38.73 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 4.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.34.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a return on equity of 14.70% and a net margin of 10.51%. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. On average, analysts forecast that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Tuesday, May 6th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Tuesday, May 6th. Baker Hughes's payout ratio is 31.40%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BKR shares. Royal Bank Of Canada lowered their target price on shares of Baker Hughes from $50.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Citigroup reduced their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Stifel Nicolaus set a $50.00 price target on Baker Hughes and gave the company a "buy" rating in a report on Thursday, April 24th. Evercore ISI cut their price objective on Baker Hughes from $52.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley cut their price objective on Baker Hughes from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company 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.