Baker Hughes (NASDAQ:BKR) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lessened its stake in shares of Baker Hughes (NASDAQ:BKR) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 142,631 shares of the company’s stock after selling 45,437 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Baker Hughes were worth $4,875,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BKR. Franklin Resources Inc. boosted its holdings in Baker Hughes by 10.4% during the fourth quarter. Franklin Resources Inc. now owns 4,263,190 shares of the company’s stock worth $145,716,000 after buying an additional 402,630 shares in the last quarter. Assetmark Inc. boosted its holdings in Baker Hughes by 6.4% during the fourth quarter. Assetmark Inc. now owns 16,249 shares of the company’s stock worth $555,000 after buying an additional 983 shares in the last quarter. BNP Paribas Asset Management Holding S.A. boosted its stake in Baker Hughes by 6.6% in the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 2,808,842 shares of the company’s stock worth $96,006,000 after purchasing an additional 174,226 shares during the period. Quest Partners LLC acquired a new position in Baker Hughes in the 4th quarter worth approximately $1,140,000. Finally, Trexquant Investment LP boosted its stake in Baker Hughes by 21.3% in the 4th quarter. Trexquant Investment LP now owns 264,503 shares of the company’s stock worth $9,041,000 after purchasing an additional 46,443 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP James E. Apostolides sold 5,000 shares of the business’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 transaction, the senior vice president now owns 14,998 shares in the company, valued at $508,132.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Baker Hughes news, SVP James E. Apostolides sold 5,000 shares of the company’s stock in a transaction 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 sale, 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 is accessible through this hyperlink. Also, SVP James E. Apostolides sold 10,000 shares of the company’s stock in a transaction 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 directly owns 14,451 shares in the company, valued at $425,437.44. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BKR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 price objective on shares of Baker Hughes in a research note on Thursday, February 1st. TD Cowen increased their target price on shares of 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 downgraded shares of Baker Hughes from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 29th. Citigroup cut 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. Finally, 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. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.94.

Baker Hughes Price Performance

Shares of Baker Hughes stock traded down $0.02 during trading on Thursday, hitting $32.07. 319,379 shares of the company’s stock traded hands, compared to its average volume of 8,101,358. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.25 and a quick ratio of 0.84. The firm’s fifty day moving average price is $32.93 and its 200 day moving average price is $32.22. Baker Hughes has a twelve month low of $26.96 and a twelve month high of $37.58. The company has a market cap of $32.01 billion, a PE ratio of 17.98, a PEG ratio of 0.57 and a beta of 1.44.

Baker Hughes (NASDAQ:BKR) last released its quarterly 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. 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%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. Analysts forecast that Baker Hughes will post 2.08 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Friday, May 3rd. Baker Hughes’s dividend payout ratio (DPR) is 46.93%.

Baker Hughes Company 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.