Baker Hughes (NASDAQ:BKR) Position Cut by Reinhart Partners LLC.

Reinhart Partners LLC. trimmed its stake in Baker Hughes (NASDAQ:BKR) by 17.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 249,561 shares of the company’s stock after selling 51,809 shares during the quarter. Reinhart Partners LLC.’s holdings in Baker Hughes were worth $10,237,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Baker Hughes by 0.5% during the third quarter. Geode Capital Management LLC now owns 24,078,093 shares of the company’s stock valued at $867,514,000 after purchasing an additional 123,172 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Baker Hughes by 34.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,920,478 shares of the company’s stock valued at $394,775,000 after purchasing an additional 2,811,940 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after purchasing an additional 680,621 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Baker Hughes by 8.6% during the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after purchasing an additional 692,859 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Stock Up 3.9 %

NASDAQ:BKR traded up $1.68 on Monday, hitting $44.94. 3,527,712 shares of the company’s stock traded hands, compared to its average volume of 5,530,714. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The firm has a 50-day moving average price of $42.28 and a 200-day moving average price of $38.00. The company has a market cap of $44.47 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.91 billion during the quarter, compared to analyst estimates 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 was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. Equities analysts anticipate that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.87%. Baker Hughes’s dividend payout ratio is 37.67%.

Analyst Ratings Changes

BKR has been the topic of a number of recent analyst reports. Susquehanna lifted their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their target price on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Monday, November 25th. TD Cowen lowered their target price on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. UBS Group lowered their target price on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Piper Sandler assumed coverage on Baker Hughes in a report on Thursday, December 19th. They set an “overweight” rating and a $53.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.18.

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.