Baker Hughes (NASDAQ:BKR) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its position in shares of Baker Hughes (NASDAQ:BKR) by 51.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 882,582 shares of the company’s stock after selling 926,474 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Baker Hughes were worth $36,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC raised its stake in shares of Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock valued at $27,000 after acquiring an additional 386 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Baker Hughes in the 4th quarter valued at about $30,000. Larson Financial Group LLC boosted its stake in shares of Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock valued at $30,000 after buying an additional 216 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Baker Hughes during the fourth quarter worth about $45,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Baker Hughes during the fourth quarter worth approximately $47,000. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $38.86 on Friday. The firm’s fifty day simple moving average is $42.34 and its 200-day simple moving average is $42.06. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 0.94. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. As a group, equities analysts forecast that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.37%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Tuesday, February 11th. Baker Hughes’s payout ratio is 30.87%.

Insider Buying and Selling

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 173,302 shares in the company, valued at approximately $7,758,730.54. This represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BKR. Barclays decreased their price target on shares of Baker Hughes from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Jefferies Financial Group lifted their price objective on shares of Baker Hughes from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada boosted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. TD Cowen cut their price target on Baker Hughes from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus lowered their price objective on Baker Hughes from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday. 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 stock currently has an average rating of “Moderate Buy” and an average price target of $50.65.

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.