Korea Investment CORP Lowers Stock Holdings in Baker Hughes (NASDAQ:BKR)

Korea Investment CORP lessened its position in Baker Hughes (NASDAQ:BKR) by 20.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 818,898 shares of the company’s stock after selling 216,006 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Baker Hughes worth $33,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter worth $291,289,000. Hotchkis & Wiley Capital Management LLC lifted its holdings 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 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 purchased a new position 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% during the 4th quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock worth $70,901,000 after acquiring an additional 1,184,036 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Down 1.3 %

Shares of Baker Hughes stock opened at $43.08 on Friday. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a market cap of $42.65 billion, a P/E ratio of 14.46, a PEG ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a fifty day moving average of $44.81 and a two-hundred day moving average of $41.67.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase 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 2.14%. Baker Hughes’s payout ratio is 30.87%.

Analyst Ratings Changes

Several equities analysts have commented on BKR shares. Susquehanna increased their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price target on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group lifted their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Bank of America boosted their target price on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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 firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now owns 173,302 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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.