Russell Investments Group Ltd. Cuts Stock Position in Baker Hughes (NASDAQ:BKR)

Russell Investments Group Ltd. decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,156,561 shares of the company’s stock after selling 486,831 shares during the period. Russell Investments Group Ltd. owned about 0.22% of Baker Hughes worth $88,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dynasty Wealth Management LLC increased its position in shares of Baker Hughes by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 7,904 shares of the company’s stock worth $324,000 after acquiring an additional 207 shares during the period. Larson Financial Group LLC increased its holdings in Baker Hughes by 41.2% during the 4th 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 raised its position in Baker Hughes by 0.7% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 40,467 shares of the company’s stock valued at $1,660,000 after purchasing an additional 267 shares in the last quarter. Cromwell Holdings LLC boosted its stake in shares of Baker Hughes by 9.3% in the 4th quarter. Cromwell Holdings LLC now owns 3,169 shares of the company’s stock valued at $130,000 after buying an additional 269 shares during the period. Finally, 180 Wealth Advisors LLC grew its position 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 worth $923,000 after buying an additional 295 shares in the last quarter. 92.06% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Stock Performance

Shares of BKR opened at $35.41 on Friday. The stock has a market capitalization of $35.06 billion, a P/E ratio of 11.88, 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 has a 1 year low of $30.93 and a 1 year high of $49.40. The company’s fifty day moving average is $44.40 and its two-hundred day moving average is $42.02.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. On average, sell-side analysts predict that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The firm also recently announced 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 2.60%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes’s dividend payout ratio is 30.87%.

Insider Activity

In other news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were 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 $7,758,730.54. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BKR shares. Piper Sandler lifted their price target on shares of Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus lifted their price objective on shares of Baker Hughes from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Susquehanna increased their target price on Baker Hughes from $53.00 to $55.00 and gave the company a “positive” rating in a report on Monday, February 3rd. Benchmark reaffirmed a “buy” rating and set a $57.00 price target on shares of Baker Hughes in a report on Tuesday, February 11th. Finally, Barclays dropped their price objective on Baker Hughes from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baker Hughes currently has an average rating of “Moderate Buy” and an average target price of $51.00.

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.