Nuveen Asset Management LLC Sells 906,204 Shares of Baker Hughes (NASDAQ:BKR)

Nuveen Asset Management LLC cut its stake in Baker Hughes (NASDAQ:BKR - Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,211,364 shares of the company's stock after selling 906,204 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.93% of Baker Hughes worth $377,850,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BKR. Capital Research Global Investors lifted its position in Baker Hughes by 0.6% during the fourth quarter. Capital Research Global Investors now owns 27,687,590 shares of the company's stock worth $1,135,744,000 after acquiring an additional 177,232 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Baker Hughes by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 24,543,925 shares of the company's stock worth $1,004,212,000 after purchasing an additional 465,832 shares during the period. Norges Bank bought a new position in shares of Baker Hughes during the fourth quarter worth approximately $829,092,000. FMR LLC lifted its holdings in Baker Hughes by 12.5% during the 4th quarter. FMR LLC now owns 15,702,057 shares of the company's stock worth $644,098,000 after purchasing an additional 1,744,225 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Baker Hughes by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,552,478 shares of the company's stock valued at $473,880,000 after purchasing an additional 874,297 shares during the period. Institutional investors and hedge funds own 92.06% of the company's stock.

Analysts Set New Price Targets

BKR has been the topic of several recent research reports. Citigroup lowered their price objective on Baker Hughes from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus set a $50.00 price target on shares of Baker Hughes and gave the stock a "buy" rating in a research report on Thursday, April 24th. Evercore ISI dropped their price objective on shares of Baker Hughes from $52.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. TD Cowen cut their price objective on shares of Baker Hughes from $50.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their target price on shares of Baker Hughes from $49.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.11.

Baker Hughes Price Performance

NASDAQ:BKR traded up $0.12 during trading hours on Monday, hitting $37.91. The company's stock had a trading volume of 5,148,194 shares, compared to its average volume of 8,189,748. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a fifty day simple moving average of $39.30 and a 200-day simple moving average of $42.08. The company has a market capitalization of $37.56 billion, a P/E ratio of 12.72, a PEG ratio of 2.00 and a beta of 0.96.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. Baker Hughes's dividend payout ratio (DPR) is presently 31.40%.

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.