Louisiana State Employees Retirement System Has $4.76 Million Holdings in Baker Hughes (NASDAQ:BKR)

Louisiana State Employees Retirement System decreased its holdings in Baker Hughes (NASDAQ:BKR) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 131,700 shares of the company’s stock after selling 4,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Baker Hughes were worth $4,761,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Lake Street Advisors Group LLC lifted its position in shares of Baker Hughes by 8.6% in the third quarter. Lake Street Advisors Group LLC now owns 6,502 shares of the company’s stock worth $235,000 after purchasing an additional 515 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Baker Hughes by 4.1% in the third quarter. Ballentine Partners LLC now owns 21,568 shares of the company’s stock worth $780,000 after purchasing an additional 840 shares in the last quarter. Tectonic Advisors LLC lifted its position in shares of Baker Hughes by 5.6% in the third quarter. Tectonic Advisors LLC now owns 13,019 shares of the company’s stock worth $471,000 after purchasing an additional 687 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Baker Hughes by 15.8% in the third quarter. Assenagon Asset Management S.A. now owns 40,838 shares of the company’s stock worth $1,476,000 after purchasing an additional 5,570 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in shares of Baker Hughes by 33.2% in the third quarter. IFM Investors Pty Ltd now owns 269,720 shares of the company’s stock worth $9,750,000 after purchasing an additional 67,212 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America cut their price objective on shares of Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group raised their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, July 29th. BMO Capital Markets raised their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a research report on Thursday. Finally, The Goldman Sachs Group raised their price objective on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.12.

Insiders Place Their Bets

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

Baker Hughes Trading Up 2.0 %

Shares of Baker Hughes stock opened at $37.52 on Friday. The company’s fifty day simple moving average is $35.70 and its 200-day simple moving average is $34.39. The company has a market cap of $37.44 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 0.61 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $39.05.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a net margin of 7.37% and a return on equity of 12.45%. Baker Hughes’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. As a group, sell-side analysts expect that Baker Hughes will post 2.25 EPS for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.24%. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.