Hsbc Holdings PLC Cuts Stock Position in Baker Hughes (NASDAQ:BKR)

Hsbc Holdings PLC lessened its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 21.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,825,396 shares of the company's stock after selling 751,923 shares during the quarter. Hsbc Holdings PLC owned 0.29% of Baker Hughes worth $116,064,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc bought a new position in Baker Hughes in the third quarter valued at approximately $1,263,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Baker Hughes during the 3rd quarter worth about $139,000. Birmingham Capital Management Co. Inc. AL lifted its stake in Baker Hughes by 18.5% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 16,000 shares of the company's stock valued at $578,000 after purchasing an additional 2,500 shares during the last quarter. Principal Financial Group Inc. increased its position in Baker Hughes by 4.2% during the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company's stock worth $42,580,000 after buying an additional 47,727 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Baker Hughes by 41.1% in the fourth quarter. GAMMA Investing LLC now owns 10,286 shares of the company's stock valued at $422,000 after buying an additional 2,998 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Susquehanna lowered their target price on shares of Baker Hughes from $48.00 to $46.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Barclays dropped their price target on Baker Hughes from $54.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on Baker Hughes from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company increased their price target on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and an average target price of $49.11.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.20 during trading on Tuesday, reaching $36.02. 1,901,615 shares of the stock traded hands, compared to its average volume of 6,880,460. Baker Hughes has a 52-week low of $30.93 and a 52-week 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 business has a fifty day simple moving average of $41.17 and a two-hundred day simple moving average of $42.09. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm 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 10.70% and a return on equity of 14.58%. Sell-side analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be paid a $0.23 dividend. The ex-dividend date is Tuesday, May 6th. This represents a $0.92 dividend on an annualized basis and a yield of 2.55%. Baker Hughes's dividend payout ratio is currently 31.40%.

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.