Baker Hughes (NASDAQ:BKR) Shares Sold by River Global Investors LLP

River Global Investors LLP cut its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 22.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 245,989 shares of the company's stock after selling 69,395 shares during the quarter. Baker Hughes makes up approximately 1.6% of River Global Investors LLP's investment portfolio, making the stock its 10th largest position. River Global Investors LLP's holdings in Baker Hughes were worth $8,409,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. FMR LLC raised its holdings in Baker Hughes by 16.8% in the 3rd quarter. FMR LLC now owns 16,078,162 shares of the company's stock worth $567,881,000 after purchasing an additional 2,316,638 shares during the period. AQR Capital Management LLC lifted its position in shares of Baker Hughes by 846.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company's stock valued at $84,025,000 after buying an additional 2,127,675 shares in the last quarter. Alphinity Investment Management Pty Ltd grew its stake in Baker Hughes by 348.2% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company's stock valued at $79,452,000 after acquiring an additional 1,805,870 shares during the period. Royal Bank of Canada increased its holdings in Baker Hughes by 165.9% in the 3rd quarter. Royal Bank of Canada now owns 2,228,646 shares of the company's stock worth $78,716,000 after acquiring an additional 1,390,574 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company's stock valued at $49,732,000 after purchasing an additional 1,283,296 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company's stock.

Wall Street Analyst Weigh In

BKR has been the subject of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. Benchmark reaffirmed a "buy" rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Wednesday, April 24th. TD Cowen boosted their price target on Baker Hughes from $46.00 to $49.00 and gave the stock an "outperform" rating in a research report on Thursday, January 25th. UBS Group raised their price objective on Baker Hughes from $35.00 to $36.00 in a report on Tuesday, April 23rd. Finally, Wolfe Research cut shares of Baker Hughes from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.94.

Baker Hughes Trading Up 0.6 %

BKR stock traded up $0.20 during midday trading on Friday, hitting $31.92. 3,701,570 shares of the company's stock were exchanged, compared to its average volume of 6,190,016. Baker Hughes has a 1-year low of $26.96 and a 1-year high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.84 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $31.95 billion, a PE ratio of 17.83, a P/E/G ratio of 0.55 and a beta of 1.44. The business has a 50-day simple moving average of $32.35 and a two-hundred day simple moving average of $32.45.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the company earned $0.28 EPS. The company's quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts predict that Baker Hughes will post 2.08 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, May 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.63%. Baker Hughes's dividend payout ratio is currently 46.93%.

Insider Buying and Selling

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction 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 completion of the sale, the senior vice president now directly owns 14,998 shares of the company's stock, valued at $508,132.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP James E. Apostolides sold 10,000 shares of the company'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 sale, the senior vice president now directly owns 14,451 shares of the company's stock, valued at approximately $425,437.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly 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 corporate insiders.

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.