Berkshire Asset Management LLC PA Sells 3,933 Shares of Baker Hughes (NASDAQ:BKR)

Berkshire Asset Management LLC PA trimmed its stake in Baker Hughes (NASDAQ:BKR) by 9.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,766 shares of the company’s stock after selling 3,933 shares during the period. Berkshire Asset Management LLC PA’s holdings in Baker Hughes were worth $1,675,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JFS Wealth Advisors LLC lifted its stake 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 during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Baker Hughes in the 3rd quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Baker Hughes during the 4th quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in shares of Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Finally, Groupama Asset Managment lifted its stake in shares of Baker Hughes by 1,045.1% during the 3rd quarter. Groupama Asset Managment now owns 889,378 shares of the company’s stock worth $32,000 after acquiring an additional 811,711 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Stock Performance

Shares of BKR stock opened at $41.90 on Friday. The stock has a market cap of $41.49 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.00 and a beta of 1.30. The business has a 50-day simple moving average of $44.78 and a 200-day simple moving average of $40.70. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52-week low of $30.44 and a 52-week high of $49.40.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share 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%. On average, equities analysts expect that Baker Hughes will post 2.59 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were issued a $0.23 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a yield of 2.20%. Baker Hughes’s dividend payout ratio is presently 30.87%.

Insider Buying and Selling

In other news, EVP Maria C. Borras sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Susquehanna raised their price target on Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a research note on Monday, February 3rd. Evercore ISI raised their price target on Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. lifted their target price on Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group lifted their target price on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Barclays lifted their target price on Baker Hughes from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

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.