Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stock Holdings in Baker Hughes (NASDAQ:BKR)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,403 shares of the company’s stock after selling 5,856 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Baker Hughes were worth $8,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at about $291,289,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Baker Hughes by 34.7% in 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. Congress Asset Management Co. purchased a new stake in shares of Baker Hughes in the fourth quarter valued at about $107,155,000. Yaupon Capital Management LP purchased a new stake in shares of Baker Hughes in the third quarter valued at about $47,296,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Baker Hughes by 217.5% in the fourth quarter. Natixis Advisors LLC now owns 1,728,450 shares of the company’s stock valued at $70,901,000 after purchasing an additional 1,184,036 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Susquehanna boosted their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Evercore ISI boosted their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, TD Cowen cut their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Baker Hughes Price Performance

BKR opened at $44.11 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52-week low of $30.93 and a 52-week high of $49.40. The company has a 50 day moving average of $44.97 and a two-hundred day moving average of $41.32. The company has a market cap of $43.67 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.00 and a beta of 1.30.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed 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 is an increase from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is currently 30.87%.

Insiders Place Their Bets

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by 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.