Sumitomo Mitsui Trust Holdings Inc. Sells 85,956 Shares of Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,131,230 shares of the company's stock after selling 85,956 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Baker Hughes worth $107,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new stake in shares of Baker Hughes in the fourth quarter valued at $4,813,000. WCM Investment Management LLC lifted its position in Baker Hughes by 4.8% during the fourth quarter. WCM Investment Management LLC now owns 81,574 shares of the company's stock worth $2,790,000 after buying an additional 3,739 shares during the period. Graypoint LLC lifted its position in Baker Hughes by 8.7% during the fourth quarter. Graypoint LLC now owns 13,398 shares of the company's stock worth $458,000 after buying an additional 1,077 shares during the period. Cerity Partners LLC lifted its position in Baker Hughes by 34.6% during the fourth quarter. Cerity Partners LLC now owns 19,216 shares of the company's stock worth $657,000 after buying an additional 4,944 shares during the period. Finally, Seelaus Asset Management LLC purchased a new position in Baker Hughes during the fourth quarter worth about $254,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now owns 14,998 shares of the company's stock, valued at approximately $508,132.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP James E. Apostolides sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total value of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Baker Hughes Stock Down 0.2 %

NASDAQ BKR traded down $0.08 during mid-day trading on Wednesday, reaching $32.02. 5,613,098 shares of the company's stock traded hands, compared to its average volume of 8,862,568. Baker Hughes has a 1-year low of $26.81 and a 1-year high of $37.58. The company has a fifty day simple moving average of $31.55 and a 200-day simple moving average of $32.60. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The company has a market cap of $32.05 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 0.67 and a beta of 1.42.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm earned $0.38 EPS. Baker Hughes's quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities research analysts expect that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were issued a $0.21 dividend. This is an increase from Baker Hughes's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.62%. Baker Hughes's dividend payout ratio (DPR) is 43.98%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BKR. Susquehanna reiterated a "positive" rating and set a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Citigroup reduced their target price on Baker Hughes from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, January 26th. TD Cowen upped their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, January 25th. Barclays dropped their price target on Baker Hughes from $43.00 to $42.00 and set an "overweight" rating for the company in a research note on Friday, January 26th. Finally, Wolfe Research lowered Baker Hughes from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.87.

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.