Baker Hughes (NASDAQ:BKR) Stock Holdings Lessened by Palouse Capital Management Inc.

Palouse Capital Management Inc. lowered its position in Baker Hughes (NASDAQ:BKR) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,782 shares of the company’s stock after selling 1,798 shares during the period. Baker Hughes comprises approximately 2.8% of Palouse Capital Management Inc.’s holdings, making the stock its 6th largest position. Palouse Capital Management Inc.’s holdings in Baker Hughes were worth $4,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BKR. Bridges Investment Management Inc. raised its stake in Baker Hughes by 3.1% during the third quarter. Bridges Investment Management Inc. now owns 9,203 shares of the company’s stock worth $333,000 after acquiring an additional 273 shares during the period. 180 Wealth Advisors LLC boosted its holdings in Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock worth $923,000 after buying an additional 295 shares in the last quarter. Graypoint LLC boosted its stake in Baker Hughes by 3.0% in the 3rd quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after purchasing an additional 301 shares during the period. Bleakley Financial Group LLC lifted its position in Baker Hughes by 1.8% in the 4th quarter. Bleakley Financial Group LLC now owns 20,984 shares of the company’s stock worth $861,000 after buying an additional 380 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in Baker Hughes by 1.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 29,841 shares of the company’s stock worth $1,079,000 after buying an additional 398 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Trading Up 0.5 %

BKR stock opened at $46.40 on Friday. The company has a market capitalization of $45.91 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.39. Baker Hughes has a 1-year low of $28.66 and a 1-year high of $49.40. The business has a 50 day simple moving average of $43.81 and a two-hundred day simple moving average of $39.83. 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 (NASDAQ:BKR) last released its earnings results 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 return on equity of 14.58% and a net margin of 10.70%. Research analysts anticipate that Baker Hughes will post 2.57 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Tuesday, February 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.98%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is presently 28.19%.

Wall Street Analysts Forecast Growth

BKR has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Citigroup boosted their price target 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. Bank of America upped their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Atb Cap Markets cut shares of Baker Hughes from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price 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.