Voya Investment Management LLC Sells 63,244 Shares of Baker Hughes (NASDAQ:BKR)

Voya Investment Management LLC reduced its position in shares of Baker Hughes (NASDAQ:BKR) by 4.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,320,937 shares of the company’s stock after selling 63,244 shares during the quarter. Voya Investment Management LLC’s holdings in Baker Hughes were worth $54,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC raised its stake in shares of Baker Hughes by 135.9% during 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in Baker Hughes during the 4th quarter valued at approximately $30,000. Larson Financial Group LLC lifted its holdings in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after buying an additional 216 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Baker Hughes in the 4th quarter worth approximately $45,000. Finally, OFI Invest Asset Management purchased a new position in shares of Baker Hughes during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Up 0.2 %

NASDAQ:BKR opened at $36.45 on Friday. Baker Hughes has a 52 week low of $30.93 and a 52 week high of $49.40. The stock has a market cap of $36.09 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.00 and a beta of 1.08. The company’s 50 day moving average price is $41.39 and its 200-day moving average price is $42.04. 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 (NASDAQ:BKR) last issued its earnings results on Tuesday, April 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Baker Hughes had a return on equity of 14.58% and a net margin of 10.70%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.54 billion. On average, equities research analysts forecast that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Tuesday, May 6th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Tuesday, May 6th. Baker Hughes’s dividend payout ratio (DPR) is 31.40%.

Insider Buying and Selling at Baker Hughes

In other news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were 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 of the company’s stock, valued at $7,758,730.54. The trade was 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 the SEC website. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BKR shares. Piper Sandler cut their price target on shares of Baker Hughes from $53.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. TD Securities cut their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company upped their target price on Baker Hughes from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus set a $50.00 target price on Baker Hughes and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.11.

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.