Retirement Systems of Alabama Sells 1,221 Shares of Baker Hughes (NASDAQ:BKR)

Retirement Systems of Alabama reduced its holdings in shares of Baker Hughes (NASDAQ:BKR) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 218,926 shares of the company’s stock after selling 1,221 shares during the quarter. Retirement Systems of Alabama’s holdings in Baker Hughes were worth $7,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BKR. National Pension Service increased its position in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Hixon Zuercher LLC acquired a new position in Baker Hughes during the third quarter worth $1,980,000. Banque Cantonale Vaudoise lifted its stake in Baker Hughes by 76.1% in the third quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after acquiring an additional 53,006 shares during the last quarter. AQR Capital Management LLC lifted its stake in Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after acquiring an additional 455,307 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Baker Hughes by 90.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 447,673 shares of the company’s stock valued at $16,183,000 after acquiring an additional 212,520 shares during the period. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Shares of NASDAQ BKR opened at $41.41 on Wednesday. The business has a fifty day moving average price of $40.71 and a two-hundred day moving average price of $36.85. The stock has a market capitalization of $40.98 billion, a PE ratio of 18.57, a P/E/G ratio of 0.72 and a beta of 1.40. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a fifty-two week low of $28.32 and a fifty-two week high of $45.17.

Baker Hughes (NASDAQ:BKR) last posted 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. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. Baker Hughes’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.03%. Baker Hughes’s dividend payout ratio (DPR) is 37.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BKR shares. Barclays raised 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. Royal Bank of Canada lifted their target price on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Atb Cap Markets cut Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on shares of Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.53.

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.