Teacher Retirement System of Texas Sells 234,507 Shares of Baker Hughes (NASDAQ:BKR)

Teacher Retirement System of Texas lessened its holdings in shares of Baker Hughes (NASDAQ:BKR) by 35.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,241 shares of the company’s stock after selling 234,507 shares during the period. Teacher Retirement System of Texas’ holdings in Baker Hughes were worth $17,238,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BKR. JFS Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Baker Hughes during the 4th quarter valued at about $30,000. Larson Financial Group LLC lifted its holdings in shares of Baker Hughes by 41.2% during the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after purchasing an additional 216 shares in the last quarter. True Wealth Design LLC lifted its stake in Baker Hughes by 2,181.6% in the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after acquiring an additional 829 shares in the last quarter. Finally, Groupama Asset Managment lifted its stake in Baker Hughes by 1,045.1% in the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock valued at $32,000 after acquiring an additional 811,711 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays boosted their target price on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Susquehanna boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Benchmark restated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their target price on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

Baker Hughes Stock Down 1.3 %

BKR stock opened at $44.11 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $43.67 billion, a PE ratio of 14.80, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 1-year low of $30.93 and a 1-year high of $49.40. The business’s 50 day simple moving average is $44.97 and its 200 day simple moving average is $41.32.

Baker Hughes (NASDAQ:BKR) last posted its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, research analysts anticipate that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.09%. Baker Hughes’s payout ratio is presently 30.87%.

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.