Intech Investment Management LLC Lowers Stake in Baker Hughes (NASDAQ:BKR)

Intech Investment Management LLC lowered its stake in shares of Baker Hughes (NASDAQ:BKR) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,006 shares of the company’s stock after selling 33,404 shares during the period. Intech Investment Management LLC’s holdings in Baker Hughes were worth $7,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BKR. Bruce G. Allen Investments LLC purchased a new stake in Baker Hughes during the fourth quarter worth $33,000. Montag A & Associates Inc. lifted its holdings in shares of Baker Hughes by 100.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Rational Advisors LLC lifted its holdings in shares of Baker Hughes by 44.0% during the 3rd quarter. Rational Advisors LLC now owns 1,250 shares of the company’s stock valued at $44,000 after purchasing an additional 382 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Baker Hughes by 38.2% during the 3rd quarter. Clearstead Advisors LLC now owns 1,523 shares of the company’s stock valued at $54,000 after purchasing an additional 421 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at $76,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BKR shares. The Goldman Sachs Group upped their target price on Baker Hughes from $36.00 to $38.00 in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 target price on shares of Baker Hughes in a research report on Thursday, February 1st. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Wednesday, April 24th. UBS Group increased their price target on Baker Hughes from $35.00 to $36.00 in a research report on Tuesday, April 23rd. Finally, Wolfe Research downgraded Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.94.

Baker Hughes Price Performance

Shares of BKR stock traded up $0.56 during mid-day trading on Friday, hitting $32.37. 4,698,650 shares of the stock were exchanged, compared to its average volume of 5,640,399. The company has a market cap of $32.31 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.56 and a beta of 1.44. Baker Hughes has a 52-week low of $26.96 and a 52-week high of $37.58. The firm has a fifty day moving average of $32.93 and a 200 day moving average of $32.19. 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 issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.37 billion. Baker Hughes had a net margin of 6.95% and a return on equity of 11.42%. Baker Hughes’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.28 EPS. Research analysts anticipate that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Friday, May 3rd. Baker Hughes’s dividend payout ratio is presently 46.93%.

Insider Activity at Baker Hughes

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