Swiss National Bank Reduces Holdings in Baker Hughes (NASDAQ:BKR)

Swiss National Bank decreased its holdings in shares of Baker Hughes (NASDAQ:BKR) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,806,420 shares of the company’s stock after selling 155,900 shares during the period. Swiss National Bank owned 0.28% of Baker Hughes worth $115,119,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKR. Raymond James Financial Inc. bought a new position in Baker Hughes during the 4th quarter valued at approximately $291,289,000. Hotchkis & Wiley Capital Management LLC raised its position in Baker Hughes by 34.7% during the 3rd 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 during the last quarter. Congress Asset Management Co. bought a new position in Baker Hughes during the 4th quarter valued at approximately $107,155,000. Yaupon Capital Management LP bought a new position in Baker Hughes during the 3rd quarter valued at approximately $47,296,000. Finally, Eagle Asset Management Inc. raised its position in Baker Hughes by 18.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after purchasing an additional 860,219 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI increased their target price on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Jefferies Financial Group increased their target price on Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group increased their target price on Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Insider Buying and Selling at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Baker Hughes Stock Up 2.6 %

BKR stock opened at $42.84 on Friday. Baker Hughes has a twelve month low of $30.93 and a twelve month high of $49.40. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $42.42 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The business has a 50 day moving average of $44.88 and a 200 day moving average of $41.01.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. On average, research analysts forecast that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

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

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.