State of Tennessee Department of Treasury Purchases 28,635 Shares of Baker Hughes (NASDAQ:BKR)

State of Tennessee Department of Treasury increased its stake in Baker Hughes (NASDAQ:BKR) by 9.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 341,150 shares of the company’s stock after buying an additional 28,635 shares during the period. State of Tennessee Department of Treasury’s holdings in Baker Hughes were worth $13,994,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC raised its holdings in shares of Baker Hughes by 135.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Baker Hughes in the 4th quarter worth $30,000. Larson Financial Group LLC boosted its holdings 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 acquiring an additional 216 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Baker Hughes during the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Baker Hughes during the fourth quarter valued at $47,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock opened at $38.36 on Wednesday. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The firm’s 50 day moving average price is $42.01 and its 200-day moving average price is $42.10. The firm has a market cap of $37.98 billion, a P/E ratio of 12.87, a P/E/G ratio of 2.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities research analysts predict that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Tuesday, May 6th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.40%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insiders Place Their Bets

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Benchmark reiterated a “buy” rating and issued a $57.00 target price on shares of Baker Hughes in a research report on Tuesday, February 11th. Barclays dropped their target price on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Stifel Nicolaus cut their price target on shares of Baker Hughes from $54.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Citigroup reduced their target price on Baker Hughes from $54.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group raised their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Baker Hughes has a consensus rating of “Moderate Buy” and an average target price of $50.65.

About Baker Hughes

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.