Allspring Global Investments Holdings LLC Sells 504,344 Shares of Baker Hughes (NASDAQ:BKR)

Allspring Global Investments Holdings LLC decreased its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,454,989 shares of the company's stock after selling 504,344 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.54% of Baker Hughes worth $186,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKR. Nordea Investment Management AB grew its stake in shares of Baker Hughes by 731.1% during the 4th quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company's stock worth $49,732,000 after acquiring an additional 1,283,296 shares in the last quarter. Wellington Management Group LLP increased its stake in Baker Hughes by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 905,513 shares of the company's stock valued at $31,983,000 after buying an additional 97,108 shares during the last quarter. Artemis Investment Management LLP lifted its position in Baker Hughes by 8.7% during the 4th quarter. Artemis Investment Management LLP now owns 3,111,853 shares of the company's stock worth $106,365,000 after buying an additional 248,125 shares in the last quarter. DDD Partners LLC acquired a new position in shares of Baker Hughes during the 4th quarter worth about $11,054,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Baker Hughes in the 3rd quarter valued at about $29,400,000. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Baker Hughes

In other news, SVP James E. Apostolides sold 10,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the sale, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Baker Hughes Price Performance

BKR stock traded down $0.06 during midday trading on Monday, reaching $34.25. 4,433,772 shares of the stock were exchanged, compared to its average volume of 9,262,800. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.86. The stock has a market capitalization of $34.28 billion, a PE ratio of 18.04, a P/E/G ratio of 0.71 and a beta of 1.42. Baker Hughes has a 52 week low of $26.81 and a 52 week high of $37.58. The company has a fifty day moving average price of $30.88 and a 200 day moving average price of $32.71.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Wednesday, January 24th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Baker Hughes had a net margin of 7.62% and a return on equity of 10.63%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the company earned $0.38 EPS. The firm's revenue was up 15.7% compared to the same quarter last year. As a group, analysts expect that Baker Hughes will post 2.07 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a $0.21 dividend. This is a positive change from Baker Hughes's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, February 12th. Baker Hughes's payout ratio is currently 43.98%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BKR shares. TD Cowen increased their price objective on Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a report on Thursday, January 25th. Citigroup decreased their price objective on shares of Baker Hughes from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Friday, January 26th. Barclays lowered their price objective on shares of Baker Hughes from $43.00 to $42.00 and set an "overweight" rating on the stock in a research note on Friday, January 26th. Susquehanna reiterated a "positive" rating and issued a $40.00 target price on shares of Baker Hughes in a research note on Monday. Finally, Wolfe Research downgraded Baker Hughes from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 29th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.87.

Baker Hughes Company 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.

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