Public Employees Retirement System of Ohio Sells 42,076 Shares of Baker Hughes (NASDAQ:BKR)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 382,426 shares of the company’s stock after selling 42,076 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Baker Hughes were worth $12,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Baker Hughes by 32.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock valued at $581,729,000 after acquiring an additional 4,207,973 shares in the last quarter. Norges Bank bought a new stake in shares of Baker Hughes in the fourth quarter valued at about $551,555,000. Dimensional Fund Advisors LP raised its holdings in shares of Baker Hughes by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,669,307 shares of the company’s stock valued at $296,319,000 after acquiring an additional 1,395,083 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Baker Hughes by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,658,242 shares of the company’s stock valued at $227,579,000 after purchasing an additional 204,839 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in Baker Hughes by 10.2% in the first quarter. Clearbridge Investments LLC now owns 6,609,115 shares of the company’s stock valued at $221,405,000 after purchasing an additional 612,715 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 55,980 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $32.00, for a total value of $1,791,360.00. Following the completion of the transaction, the executive vice president now directly owns 92,035 shares of the company’s stock, valued at approximately $2,945,120. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Stock Performance

NASDAQ:BKR traded up $0.82 during trading hours on Monday, reaching $38.47. The company had a trading volume of 13,433,716 shares, compared to its average volume of 7,559,972. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $38.59. The firm has a market cap of $38.39 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41. The business’s 50 day moving average price is $33.64 and its 200-day moving average price is $32.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.86.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.81 billion. Baker Hughes had a return on equity of 12.45% and a net margin of 7.37%. Baker Hughes’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. Research analysts forecast that Baker Hughes will post 2.11 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, August 6th. Baker Hughes’s payout ratio is 46.93%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Susquehanna lifted their target price on Baker Hughes from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Monday. Morgan Stanley boosted their price target on Baker Hughes from $40.00 to $43.00 in a research note on Tuesday, April 23rd. The Goldman Sachs Group boosted their price target on Baker Hughes from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America dropped their price target on Baker Hughes from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Evercore ISI boosted their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.