Baker Hughes (NASDAQ:BKR) Shares Sold by AMG National Trust Bank

AMG National Trust Bank lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 32.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,397 shares of the company’s stock after selling 3,041 shares during the period. AMG National Trust Bank’s holdings in Baker Hughes were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Callan Family Office LLC purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $1,293,000. E Fund Management Co. Ltd. increased its stake in shares of Baker Hughes by 33.7% during the fourth quarter. E Fund Management Co. Ltd. now owns 14,411 shares of the company’s stock worth $591,000 after purchasing an additional 3,629 shares in the last quarter. Candriam S.C.A. increased its stake in shares of Baker Hughes by 4.1% during the fourth quarter. Candriam S.C.A. now owns 93,496 shares of the company’s stock worth $3,835,000 after purchasing an additional 3,644 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $2,501,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes during the fourth quarter worth about $291,289,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Up 2.4 %

Shares of NASDAQ BKR opened at $42.89 on Friday. The company has a 50 day simple moving average of $44.82 and a 200-day simple moving average of $40.80. The company has a market capitalization of $42.47 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. Baker Hughes has a 1 year low of $30.52 and a 1 year high of $49.40.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, topping 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%. On average, equities research analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 30.87%.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BKR. Benchmark reissued a “buy” rating and set a $57.00 target price on shares of Baker Hughes in a research note on Tuesday, February 11th. Citigroup increased their price objective on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Jefferies Financial Group increased their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada increased their price objective on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, Evercore ISI increased their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

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.