Sumitomo Mitsui Trust Holdings Inc. Cuts Position in Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Baker Hughes (NASDAQ:BKR) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,131,230 shares of the company’s stock after selling 85,956 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Baker Hughes were worth $107,025,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BKR. Norges Bank purchased a new position in Baker Hughes in the fourth quarter worth $195,343,000. FMR LLC grew its holdings in Baker Hughes by 16.8% in the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock valued at $567,881,000 after purchasing an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC grew its holdings in Baker Hughes by 846.7% in the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock valued at $84,025,000 after purchasing an additional 2,127,675 shares during the last quarter. Morgan Stanley grew its holdings in Baker Hughes by 27.2% in the fourth quarter. Morgan Stanley now owns 8,986,722 shares of the company’s stock valued at $265,378,000 after purchasing an additional 1,919,760 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in Baker Hughes in the first quarter valued at $69,329,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the completion of the transaction, the senior vice president now owns 14,998 shares in the company, valued at approximately $508,132.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP James E. Apostolides sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the completion of the transaction, the senior vice president now owns 14,451 shares in the company, valued at approximately $425,437.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James E. Apostolides sold 5,000 shares of Baker Hughes stock in a transaction on Friday, April 5th. The shares were sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now directly owns 14,998 shares in the company, valued at approximately $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR opened at $32.10 on Wednesday. The company has a market cap of $32.13 billion, a P/E ratio of 16.81, a PEG ratio of 0.68 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.86 and a current ratio of 1.25. Baker Hughes has a one year low of $26.81 and a one year high of $37.58. The business’s 50-day simple moving average is $31.49 and its 200 day simple moving average is $32.60.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. The firm had revenue of $6.84 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm earned $0.38 EPS. Baker Hughes’s quarterly revenue was up 15.7% on a year-over-year basis. On average, sell-side analysts forecast that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, February 12th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.20. Baker Hughes’s dividend payout ratio (DPR) is 43.98%.

Analysts Set New Price Targets

Several analysts have weighed in on BKR shares. TD Cowen upped their target price on Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Citigroup decreased their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Wolfe Research lowered Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Susquehanna reissued a “positive” rating and issued a $40.00 price target on shares of Baker Hughes in a research note on Monday, April 8th. Finally, Barclays decreased their price target on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating on the stock in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.87.

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.