New York State Common Retirement Fund Sells 82,609 Shares of Baker Hughes (NASDAQ:BKR)

New York State Common Retirement Fund trimmed its stake in shares of Baker Hughes (NASDAQ:BKR) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 941,835 shares of the company’s stock after selling 82,609 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Baker Hughes worth $32,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Baker Hughes during the fourth quarter worth $33,000. OFI Invest Asset Management bought a new stake in shares of Baker Hughes in the third quarter valued at about $36,000. Rational Advisors LLC boosted its position 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 valued at $44,000 after acquiring an additional 382 shares during the period. Clearstead Advisors LLC boosted its position in shares of Baker Hughes by 38.2% in the third 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 period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Baker Hughes in the third quarter valued at about $76,000. 92.06% of the stock is owned by institutional investors.

Insider Activity

In other 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 completion of the transaction, the senior vice president now 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 is accessible through this link. In related news, SVP James E. Apostolides sold 10,000 shares of the company’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 value of $294,400.00. Following the sale, the senior vice president now directly owns 14,451 shares in the company, valued at $425,437.44. The sale was disclosed in a document filed 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 that occurred 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 completion of the sale, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BKR. Citigroup reduced their target price on shares of Baker Hughes from $42.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 26th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Wednesday. TD Cowen boosted their target price on shares of Baker Hughes from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Wolfe Research cut shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Finally, Susquehanna reissued a “positive” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.94.

Baker Hughes Stock Up 1.9 %

Shares of NASDAQ BKR opened at $33.30 on Friday. 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 company has a market cap of $33.33 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 0.62 and a beta of 1.42. Baker Hughes has a 12 month low of $26.81 and a 12 month high of $37.58. The stock has a 50-day moving average price of $31.97 and a two-hundred day moving average price of $32.56.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, April 23rd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.37 billion. Baker Hughes had a return on equity of 11.42% and a net margin of 6.95%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, analysts forecast that Baker Hughes will post 2.07 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, May 3rd. Baker Hughes’s dividend payout ratio is currently 46.93%.

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.