Greenleaf Trust Sells 692 Shares of Baker Hughes (NASDAQ:BKR)

Greenleaf Trust decreased its holdings in Baker Hughes (NASDAQ:BKR) by 4.4% in the 4th quarter, HoldingsChannel reports. The firm owned 15,036 shares of the company’s stock after selling 692 shares during the quarter. Greenleaf Trust’s holdings in Baker Hughes were worth $514,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its position in shares of Baker Hughes by 16.8% during the third quarter. FMR LLC now owns 16,078,162 shares of the company’s stock worth $567,881,000 after acquiring an additional 2,316,638 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Baker Hughes by 846.7% during the third quarter. AQR Capital Management LLC now owns 2,378,976 shares of the company’s stock worth $84,025,000 after acquiring an additional 2,127,675 shares during the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of Baker Hughes by 348.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 2,324,511 shares of the company’s stock worth $79,452,000 after acquiring an additional 1,805,870 shares during the last quarter. Royal Bank of Canada raised its position in shares of Baker Hughes by 165.9% during the third quarter. Royal Bank of Canada now owns 2,228,646 shares of the company’s stock worth $78,716,000 after acquiring an additional 1,390,574 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Baker Hughes by 731.1% during the fourth quarter. Nordea Investment Management AB now owns 1,458,833 shares of the company’s stock worth $49,732,000 after acquiring an additional 1,283,296 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Insider Transactions at Baker Hughes

In other news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total transaction of $169,400.00. Following the completion of the transaction, the senior vice president now directly owns 14,998 shares of the company’s stock, valued at $508,132.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.44, for a total transaction of $294,400.00. Following the sale, the senior vice president now owns 14,451 shares in the company, valued at $425,437.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $33.88, for a total value of $169,400.00. Following the sale, the senior vice president now 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BKR shares. TD Cowen boosted their target price on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research cut Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Citigroup decreased their price objective on Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Susquehanna reaffirmed a “positive” rating and set a $40.00 price objective on shares of Baker Hughes in a research note on Monday, April 8th. Finally, Barclays decreased their price objective on Baker Hughes from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus target price of $41.07.

Baker Hughes Stock Down 0.4 %

NASDAQ:BKR opened at $32.46 on Tuesday. Baker Hughes has a 1 year low of $26.81 and a 1 year high of $37.58. The company has a current ratio of 1.25, a quick ratio of 0.86 and a debt-to-equity ratio of 0.38. The stock has a market cap of $32.49 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.62 and a beta of 1.42. The stock has a 50-day moving average price of $31.74 and a two-hundred day moving average price of $32.56.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. The company had revenue of $6.84 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Baker Hughes had a return on equity of 10.63% and a net margin of 7.62%. Baker Hughes’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts expect that Baker Hughes will post 2.07 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were given a dividend of $0.21 per share. This is a boost from Baker Hughes’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, February 12th. Baker Hughes’s dividend payout ratio is currently 43.98%.

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.