Baker Hughes (NASDAQ:BKR) Shares Sold by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT lessened its holdings in shares of Baker Hughes (NASDAQ:BKR) by 45.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 78,958 shares of the company’s stock after selling 66,136 shares during the quarter. Iridian Asset Management LLC CT’s holdings in Baker Hughes were worth $3,239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of BKR. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes during the third quarter valued at about $30,000. True Wealth Design LLC increased its stake in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock valued at $31,000 after buying an additional 829 shares during the period. Groupama Asset Managment raised its position in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after buying an additional 811,711 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of Baker Hughes by 442.2% in the 3rd quarter. Continuum Advisory LLC now owns 976 shares of the company’s stock worth $35,000 after acquiring an additional 796 shares during the period. Finally, Eastern Bank boosted its holdings in shares of Baker Hughes by 598.4% in the fourth quarter. Eastern Bank now owns 1,739 shares of the company’s stock valued at $71,000 after acquiring an additional 1,490 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

BKR has been the topic of several recent analyst reports. Evercore ISI boosted 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. BMO Capital Markets upped their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Citigroup lifted their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. Finally, Susquehanna lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.18.

Baker Hughes Trading Down 3.8 %

Shares of NASDAQ BKR opened at $46.98 on Friday. The firm has a market capitalization of $46.49 billion, a PE ratio of 15.77, a PEG ratio of 0.89 and a beta of 1.39. Baker Hughes has a one year low of $28.63 and a one year high of $49.40. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $43.30 and a two-hundred day moving average price of $39.35.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, analysts predict that Baker Hughes will post 2.55 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be paid a $0.23 dividend. The ex-dividend date is 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 1.96%. Baker Hughes’s dividend payout ratio is 28.19%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.