New York State Common Retirement Fund Reduces Position in Baker Hughes (NASDAQ:BKR)

New York State Common Retirement Fund cut its position in Baker Hughes (NASDAQ:BKR - Free Report) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 941,835 shares of the company's stock after selling 82,609 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Baker Hughes worth $32,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. grew its position in Baker Hughes by 15.5% in the 4th quarter. Blue Trust Inc. now owns 2,432 shares of the company's stock worth $85,000 after purchasing an additional 327 shares during the last quarter. Rational Advisors LLC boosted its position in shares of Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company's stock valued at $44,000 after acquiring an additional 382 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Baker Hughes by 6.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,400 shares of the company's stock valued at $219,000 after acquiring an additional 398 shares in the last quarter. Huntington National Bank boosted its position in shares of Baker Hughes by 8.2% during the 3rd quarter. Huntington National Bank now owns 5,501 shares of the company's stock valued at $194,000 after acquiring an additional 416 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Baker Hughes by 2.8% during the 3rd quarter. Blair William & Co. IL now owns 15,086 shares of the company's stock valued at $533,000 after acquiring an additional 416 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Trading Down 1.4 %

NASDAQ BKR traded down $0.46 during trading on Friday, reaching $32.84. 7,496,435 shares of the stock traded hands, compared to its average volume of 8,756,129. The firm has a market cap of $32.87 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 0.62 and a beta of 1.42. The stock's 50-day moving average price is $32.05 and its 200 day moving average price is $32.54. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.38. Baker Hughes has a fifty-two week low of $26.81 and a fifty-two week high of $37.58.

Baker Hughes (NASDAQ:BKR - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The company had revenue of $6.42 billion during the quarter, compared to analysts' expectations of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The business's quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Analysts predict that Baker Hughes will post 2.07 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes's dividend payout ratio (DPR) is presently 46.93%.

Insider Activity

In other news, SVP James E. Apostolides sold 5,000 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 14,998 shares of the company's stock, valued at $508,132.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP James E. Apostolides sold 5,000 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 14,998 shares of the company's stock, valued at $508,132.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James E. Apostolides sold 10,000 shares of the business's stock in a transaction on Tuesday, March 5th. The stock was 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 approximately $425,437.44. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wolfe Research lowered shares of Baker Hughes from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their target price on shares of Baker Hughes from $36.00 to $38.00 in a research report on Tuesday. TD Cowen lifted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. Royal Bank of Canada reissued an "outperform" rating and set a $39.00 price target on shares of Baker Hughes in a report on Thursday, February 1st. Finally, UBS Group lifted their price target on shares of Baker Hughes from $35.00 to $36.00 in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.94.

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.