Nikko Asset Management Americas Inc. Sells 10,321 Shares of Baker Hughes (NASDAQ:BKR)

Nikko Asset Management Americas Inc. cut its holdings in shares of Baker Hughes (NASDAQ:BKR) by 35.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,184 shares of the company’s stock after selling 10,321 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Baker Hughes were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Baker Hughes during the fourth quarter worth $291,289,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock worth $394,775,000 after buying an additional 2,811,940 shares during the last quarter. Congress Asset Management Co. acquired a new position in shares of Baker Hughes during the 4th quarter worth about $107,155,000. Yaupon Capital Management LP bought a new stake in shares of Baker Hughes in the 3rd quarter valued at about $47,296,000. Finally, Natixis Advisors LLC raised its position in shares of Baker Hughes by 217.5% in the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after acquiring an additional 1,184,036 shares during the period. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BKR shares. The Goldman Sachs Group boosted their price objective on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Benchmark restated a “buy” rating and issued a $57.00 price objective on shares of Baker Hughes in a research report on Tuesday, February 11th. Susquehanna raised their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. 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. Finally, TD Cowen dropped their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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 shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares of the company’s stock, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Baker Hughes Price Performance

NASDAQ BKR opened at $43.88 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 12-month low of $30.93 and a 12-month high of $49.40. The company has a market capitalization of $43.45 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The firm’s 50 day moving average is $44.90 and its 200-day moving average is $41.15.

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

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is currently 30.87%.

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.