Baker Hughes (NASDAQ:BKR) Stock Position Cut by Janus Henderson Group PLC

Janus Henderson Group PLC cut its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 28.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 461,694 shares of the company's stock after selling 180,451 shares during the period. Janus Henderson Group PLC's holdings in Baker Hughes were worth $18,939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in Baker Hughes during the 4th quarter worth approximately $829,092,000. Raymond James Financial Inc. purchased a new position in shares of Baker Hughes in the 4th quarter valued at about $291,289,000. Neuberger Berman Group LLC increased its stake in shares of Baker Hughes by 2,527.6% during the fourth quarter. Neuberger Berman Group LLC now owns 3,319,418 shares of the company's stock worth $136,158,000 after buying an additional 3,193,089 shares during the period. Congress Asset Management Co. purchased a new position in Baker Hughes in the fourth quarter worth approximately $107,155,000. Finally, FMR LLC increased its position 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 last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BKR. Susquehanna decreased their price target on Baker Hughes from $48.00 to $46.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Royal Bank of Canada cut their price target 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. Piper Sandler cut their target price on Baker Hughes from $53.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. TD Securities lowered their target price on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley decreased their target price on shares of Baker Hughes from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Stock Up 0.3%

Baker Hughes stock traded up $0.12 during midday trading on Monday, hitting $37.91. The stock had a trading volume of 5,295,934 shares, compared to its average volume of 7,041,173. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average price of $39.30 and a 200 day moving average price of $42.08. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The stock has a market cap of $37.56 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.00 and a beta of 0.96.

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, topping analysts' consensus estimates of $0.48 by $0.03. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. Research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. Baker Hughes's dividend payout ratio is currently 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.