Kentucky Retirement Systems Insurance Trust Fund Sells 2,776 Shares of Baker Hughes (NASDAQ:BKR)

Kentucky Retirement Systems Insurance Trust Fund decreased its position in Baker Hughes (NASDAQ:BKR) by 8.6% during the third quarter, Holdings Channel reports. The fund owned 29,413 shares of the company’s stock after selling 2,776 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Baker Hughes were worth $1,063,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Portfolio Solutions LLC grew its position in shares of Baker Hughes by 27.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 31,003 shares of the company’s stock valued at $1,039,000 after acquiring an additional 6,604 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Baker Hughes by 31.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 743,238 shares of the company’s stock worth $24,885,000 after buying an additional 178,881 shares in the last quarter. Edgestream Partners L.P. raised its stake in shares of Baker Hughes by 126.6% in the first quarter. Edgestream Partners L.P. now owns 34,578 shares of the company’s stock worth $1,158,000 after buying an additional 19,320 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Baker Hughes by 26.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 49,566 shares of the company’s stock valued at $1,660,000 after acquiring an additional 10,278 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in Baker Hughes in the 1st quarter worth approximately $1,431,000. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Baker Hughes stock opened at $42.94 on Monday. The company’s 50-day moving average price is $37.48 and its 200-day moving average price is $35.24. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a market cap of $42.49 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 0.72 and a beta of 1.38. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $44.49.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities research analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.96%. Baker Hughes’s dividend payout ratio is presently 37.67%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BKR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Barclays lifted their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised their price target on Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Argus raised Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their target price on Baker Hughes from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.59.

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.