Swiss National Bank Sells 101,100 Shares of Baker Hughes (NASDAQ:BKR)

Swiss National Bank decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,155,120 shares of the company’s stock after selling 101,100 shares during the period. Swiss National Bank owned approximately 0.31% of Baker Hughes worth $107,842,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in shares of Baker Hughes during the 4th quarter valued at $33,000. OFI Invest Asset Management bought a new position in shares of Baker Hughes during the third quarter valued at about $36,000. Rational Advisors LLC increased its holdings in shares of Baker Hughes by 44.0% in the third quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock worth $44,000 after buying an additional 382 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Baker Hughes by 38.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock valued at $54,000 after acquiring an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Baker Hughes in the 3rd quarter valued at about $76,000. Institutional investors own 92.06% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BKR. 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. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price target on shares of Baker Hughes in a research report on Thursday, February 1st. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $36.00 to $38.00 in a report on Tuesday, April 23rd. Wolfe Research downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 29th. Finally, TD Cowen raised their target price on Baker Hughes from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of “Moderate Buy” and an average price target of $40.94.

Baker Hughes Trading Up 0.6 %

NASDAQ BKR opened at $31.92 on Friday. The firm has a market capitalization of $31.95 billion, a PE ratio of 17.83, a P/E/G ratio of 0.55 and a beta of 1.44. The stock’s 50 day moving average is $32.35 and its 200 day moving average is $32.45. Baker Hughes has a twelve month low of $26.96 and a twelve month high of $37.58. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 0.38.

Baker Hughes (NASDAQ:BKR) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts forecast that Baker Hughes will post 2.08 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio is 46.93%.

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.