Baker Hughes (NASDAQ:BKR) Stock Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in Baker Hughes (NASDAQ:BKR) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 815,766 shares of the company’s stock after selling 441 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Baker Hughes worth $29,490,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BKR. Wealth Enhancement Advisory Services LLC increased its stake in Baker Hughes by 8.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,332 shares of the company’s stock valued at $782,000 after buying an additional 1,829 shares during the period. Norden Group LLC acquired a new position in Baker Hughes in the 1st quarter valued at approximately $2,392,000. Commonwealth Equity Services LLC increased its stake in Baker Hughes by 23.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 30,644 shares of the company’s stock valued at $1,027,000 after buying an additional 5,839 shares during the period. Wakefield Asset Management LLLP increased its stake in shares of Baker Hughes by 132.1% during the 1st quarter. Wakefield Asset Management LLLP now owns 118,484 shares of the company’s stock worth $3,969,000 after purchasing an additional 67,440 shares during the last quarter. Finally, Iridian Asset Management LLC CT increased its stake in shares of Baker Hughes by 24.0% during the 1st quarter. Iridian Asset Management LLC CT now owns 182,517 shares of the company’s stock worth $6,114,000 after purchasing an additional 35,274 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BKR shares. Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their price target on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Bank of America dropped their price target on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, TD Cowen increased their price target on shares of Baker Hughes from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and a consensus target price of $44.12.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, CEO Lorenzo Simonelli sold 114,286 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $35.00, for a total value of $4,000,010.00. Following the completion of the sale, the chief executive officer now directly owns 502,053 shares of the company’s stock, valued at $17,571,855. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of Baker Hughes stock opened at $38.08 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $39.05. The firm has a fifty day moving average price of $35.93 and a two-hundred day moving average price of $34.49. The company has a market cap of $38.00 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.61 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Analysts expect that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 46.93%.

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.