AIA Group Ltd Trims Position in Baker Hughes (NASDAQ:BKR)

AIA Group Ltd trimmed its stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,580 shares of the company's stock after selling 65,741 shares during the period. AIA Group Ltd's holdings in Baker Hughes were worth $2,788,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Baker Hughes by 109.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,130 shares of the company's stock valued at $107,000 after purchasing an additional 1,639 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Baker Hughes by 7.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 141,127 shares of the company's stock valued at $4,824,000 after acquiring an additional 9,931 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Baker Hughes by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 414,396 shares of the company's stock worth $14,164,000 after acquiring an additional 6,929 shares during the period. Everence Capital Management Inc. lifted its stake in Baker Hughes by 11.7% in the fourth quarter. Everence Capital Management Inc. now owns 135,070 shares of the company's stock valued at $4,617,000 after buying an additional 14,130 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. grew its holdings in Baker Hughes by 7.2% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 41,127 shares of the company's stock worth $1,406,000 after buying an additional 2,748 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BKR. Barclays cut their price objective on Baker Hughes from $43.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, January 26th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Susquehanna restated a "positive" rating and issued a $40.00 target price on shares of Baker Hughes in a report on Monday, April 8th. TD Cowen increased their price target on Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Finally, Wolfe Research lowered shares of Baker Hughes from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.87.

Insider Activity

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

Baker Hughes Price Performance

Shares of NASDAQ:BKR traded up $0.18 on Thursday, hitting $32.20. The stock had a trading volume of 5,714,149 shares, compared to its average volume of 8,820,597. Baker Hughes has a twelve month low of $26.81 and a twelve month high of $37.58. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.61 and a beta of 1.42. The firm's 50 day moving average price is $31.61 and its 200-day moving average price is $32.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25.

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

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a $0.21 dividend. This is a boost from Baker Hughes's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes's dividend payout ratio (DPR) is 43.98%.

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.