Intech Investment Management LLC Sells 89,125 Shares of Baker Hughes (NASDAQ:BKR)

Intech Investment Management LLC lessened its holdings in Baker Hughes (NASDAQ:BKR) by 60.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,493 shares of the company’s stock after selling 89,125 shares during the quarter. Intech Investment Management LLC’s holdings in Baker Hughes were worth $2,399,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Baker Hughes by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after acquiring an additional 123,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Baker Hughes by 34.7% in 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 acquiring an additional 2,811,940 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Baker Hughes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock worth $348,233,000 after buying an additional 145,537 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes in the 4th quarter worth $291,289,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Baker Hughes by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,086,903 shares of the company’s stock worth $290,705,000 after buying an additional 135,200 shares during the period. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BKR shares. Susquehanna upped their target price on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. The Goldman Sachs Group upped their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus upped their target price on Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Evercore ISI upped their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Finally, Bank of America upped their price objective on Baker Hughes from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction dated 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 directly owns 173,302 shares of the company’s stock, valued at $7,758,730.54. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 0.2 %

Shares of NASDAQ:BKR opened at $44.69 on Friday. The business’s 50-day moving average is $44.95 and its 200 day moving average is $41.26. Baker Hughes has a 1 year low of $30.93 and a 1 year high of $49.40. The firm has a market capitalization of $44.25 billion, a P/E ratio of 15.00, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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 return on equity of 14.58% and a net margin of 10.70%. On average, research analysts predict that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were issued a $0.23 dividend. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.06%. Baker Hughes’s dividend 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.