iA Global Asset Management Inc. Sells 39,637 Shares of Baker Hughes (NASDAQ:BKR)

iA Global Asset Management Inc. trimmed its stake in Baker Hughes (NASDAQ:BKR) by 20.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,793 shares of the company’s stock after selling 39,637 shares during the period. iA Global Asset Management Inc.’s holdings in Baker Hughes were worth $6,309,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Baker Hughes during the 4th quarter valued at about $291,289,000. Hotchkis & Wiley Capital Management LLC increased its position in Baker Hughes by 34.7% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after buying an additional 2,811,940 shares in the last quarter. Congress Asset Management Co. acquired a new position in Baker Hughes during the 4th quarter valued at about $107,155,000. Yaupon Capital Management LP acquired a new position in Baker Hughes during the 3rd quarter valued at about $47,296,000. Finally, Natixis Advisors LLC increased its position in Baker Hughes by 217.5% during the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after buying an additional 1,184,036 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the 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 transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank of Canada upped their target price on Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group boosted their price target on Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. 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 note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price target on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Baker Hughes Stock Up 0.2 %

Shares of BKR opened at $44.69 on Friday. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $44.25 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 2.00 and a beta of 1.30. The stock’s 50-day moving average price is $44.95 and its 200-day moving average price is $41.26.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 EPS 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%. On average, sell-side analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm 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. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.06%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio is currently 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.