Teacher Retirement System of Texas Sells 234,507 Shares of Baker Hughes (NASDAQ:BKR)

Teacher Retirement System of Texas reduced its position in Baker Hughes (NASDAQ:BKR) by 35.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 420,241 shares of the company’s stock after selling 234,507 shares during the quarter. Teacher Retirement System of Texas’ holdings in Baker Hughes were worth $17,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynasty Wealth Management LLC lifted its position in Baker Hughes by 2.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after purchasing an additional 207 shares during the period. Larson Financial Group LLC lifted its position in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the period. Alpine Woods Capital Investors LLC lifted its position in Baker Hughes by 0.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock worth $1,660,000 after purchasing an additional 267 shares during the period. Cromwell Holdings LLC lifted its holdings in shares of Baker Hughes by 9.3% during the fourth quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after acquiring an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Baker Hughes by 1.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 22,506 shares of the company’s stock valued at $923,000 after acquiring an additional 295 shares during the period. 92.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BKR. The Goldman Sachs Group lifted their price objective on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Piper Sandler lifted their price objective on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on Baker Hughes from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America lifted their price objective on Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Benchmark reaffirmed a “buy” rating and issued a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Insider Transactions at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at approximately $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $44.11 on Friday. The stock has a 50-day moving average price of $44.97 and a 200 day moving average price of $41.32. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $43.67 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.00 and a beta of 1.30. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. Research analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were given a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s payout ratio is presently 30.87%.

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.