State of Michigan Retirement System Reduces Holdings in Baker Hughes (NASDAQ:BKR)

State of Michigan Retirement System cut its position in Baker Hughes (NASDAQ:BKR) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,612 shares of the company’s stock after selling 1,900 shares during the quarter. State of Michigan Retirement System’s holdings in Baker Hughes were worth $11,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC increased its holdings in Baker Hughes by 135.9% during the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the third quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes during the fourth quarter worth approximately $30,000. True Wealth Design LLC raised its holdings in Baker Hughes by 2,181.6% in the third 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 boosted its stake in Baker Hughes by 1,045.1% during 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 during the last quarter. 92.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Down 1.3 %

BKR opened at $42.32 on Thursday. The stock’s 50 day moving average price is $44.76 and its 200 day moving average price is $40.69. 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 market cap of $41.90 billion, a P/E ratio of 14.20, a P/E/G ratio of 2.00 and a beta of 1.30. Baker Hughes has a 12 month low of $30.41 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating 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 predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s payout ratio is 30.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BKR shares. Barclays boosted their target price on shares of Baker Hughes from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a research report on Tuesday, February 11th. Bank of America lifted their price objective on shares of Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company increased 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. Finally, TD Cowen decreased their price target on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Baker Hughes 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.